Mortgage rates stayed near year-long lows this week, skewing slightly higher according to some sources. Consumer credit expanded in July, powering overall economic growth. Job openings are down and voluntary quit rates are up, as the labor market stays strong. Both new purchase and refinance mortgage application submissions are up.

When you’re ready to buy a home, one of the first questions that will come to mind is naturally “how much do I need to save for a down payment?” The amount needed for the down payment will vary depending on the type of loan you choose. Many home buyers believe a 20% down payment is needed to buy a home, but that’s not always the case. In 2018, the National Association of Realtors (NAR) found that 55% of all home buyers bought their home with a down payment of 6% or less, and 72% of first-time home buyers used a down payment of 6% or less. To determine how much you will need to save for a down payment, start with these equations.

Many home buyers choose to buy a fixer-upper for financial reasons. They often expect the cost of the home combined with the cost of the needed improvements will still be less than buying a comparable move-in ready home. A recent survey of 1,069 homeowners from Porch.com, found that although buyers who bought a fixer-upper spent on average $50,000 less than their counterparts who bought move-in ready homes. But they tended to spend that difference, or more, on renovations and repairs to make their home livable.

Lately, numerous networks have been broadcasting news about an impending recession. The economy ebbs and flows through various economic cycles, and there are times when sustained growth is followed by a downturn. After the longest period of economic expansion in American history, a recession would not be unusual. When we hear “recession” today, many of us may immediately recall the Financial Crisis of 2007-2008 and the ensuing Great Recession. The Great Recession was brought on in part by irresponsible lending practices and the housing market collapse. However, if a recession takes place soon, it will likely not have the same impact on housing as the Great Recession.

There are no significant housing reports scheduled for this week, aside from the Mortgage Bankers Association (MBA) weekly mortgage application survey. Other market-moving reports include the consumer credit report and the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS).

Markets were closed on Monday in observance of the Labor Day holiday. Mortgage rates continued their downward trend this week, touching down on year-long lows. Construction spending improved in July. New purchase application submissions were up, but refinance application submissions were down. The ADP employment report exceeded expectations.

The home you buy today is not always going to be the home you live in forever. Sometimes the need to move may come sooner than you expect. Most real estate professionals recommend waiting at least five years after buying a home before selling it to make sure you recoup the cost of the home purchase. However, circumstances vary, and in some cases, you could benefit from selling your home sooner rather than later. Realtor.com contributor, Larissa Runkle, identified three times when you should break the “5-year rule.”

Since Tesla acquired SolarCity in 2016, residential solar panel installations have stalled. High installation costs create a financial barrier for many homeowners to switch to solar panels, despite the long-term energy savings. To make its solar panels more accessible, Tesla is pioneering a rental program in Arizona, California, Connecticut, Massachusetts, New Jersey, and New Mexico, with no installation costs and no time commitment.

The Trump Administration is expected to release its plan to return Fannie Mae and Freddie Mac to private-shareholder ownership early this month. Although Treasury Secretary Steve Mnuchin initially pledged housing finance reform was a top priority when he took office, the issue has taken a backseat to other policy matters throughout the Trump presidency. This proposal was expected to be announced earlier this summer but was delayed by revisions from the Department of Housing and Urban Development.

Markets are closed today in observance of the Labor Day holiday. This will be a short week with lots of news. The US construction spending report comes out on Tuesday, the Mortgage Bankers Association (MBA) weekly mortgage application survey comes out on Wednesday, and the ADP employment report comes out on Wednesday.

Mortgage rates trended downward this week, touching year-long lows according to some sources. Both the Case-Shiller home price index and the Federal Housing Finance Agency (FHFA) house price index showed a slowdown of home price appreciation in June. Pending home sales declined.

Whether it’s your mortgage payment or your monthly rent, housing is most retirees’ biggest recurring expense. According to the Bureau of Labor Statistics, the average household headed by an adult 65 or older spends nearly 34% of their income on housing and housing-related expenses like insurance, property taxes, maintenance needs, and utilities. For many, retiring means a fixed income and the prospect of monthly housing costs may seem daunting, especially added onto other needs like medical expenses and travel. Financial contributors at the Motley Fool compiled this list of four ways to reduce your biggest expense during retirement.

Whether you just moved into your home or have lived there for years, renovations do not have to be costly. Bathrooms are one of the most popular rooms to renovate following kitchen renovations. There are ways to spruce up your bathroom without breaking the bank. If you’re not ready for a full bathroom makeover, try some of these ideas.

Determined to become homeowners in today’s competitive housing market, Millennials have found a new way to get what they want out of their home purchase; home improvement. In many metros, especially high-cost areas with rising home prices, first-time home buyers like Millennials have found choosing to buy a home that needs renovation or repair allows them to become a homeowner sooner and start building valuable home equity from their real estate investment. CNBC reported last year, homeowners who had mortgages experienced an 8% annual equity increase, adding up to $678 billion in excess home equity or approximately $9,700 per homeowner.

Mortgage rates did not move significantly last week, continuing to hover near historic lows. This week, two readings on home price appreciation trends will be released. Both the S&P CoreLogic Case-Shiller home price index and the Federal Housing Finance Agency (FHFA) house price index are scheduled for release on Tuesday. The pending home sales index comes out on Thursday.

Mortgage rates flattened out this week, not moving significantly in either direction. As a result, mortgage activity was slow. Existing home sales increased in July, possibly triggered by this summer’s lower mortgage rates. New home sales fell sharply.

The idea of a totally digital mortgage experience may sound alluring to anyone with a busy schedule of daily demands. But when it comes to a six (or more!) digit transaction, there is an advantage to having a real person on your side to advocate on your behalf. Even if you prefer to get started filling out your application online or through our mobile app, working with a real loan officer and not a customer service hotline empowers you to cross the finish line with confidence.

If you’re kicking back by the pool, the last thing on your mind is colder weather ahead. But fast forward to the winter months and imagine going out to check your gutter leak in the chilling wind. Preparing your home for the winter months during the summer can save you tons of aggravation, and even reduce the need for expensive repairs.

In lieu of the Federal Reserve’s rate cut, many homeowners are considering a mortgage refinance. Refinancing your mortgage could help you lower your monthly mortgage payment through a lower interest rate, reduce or eliminate mortgage insurance, change loan programs or terms, or get cash out. When homeowners get cash out, they are able to use their home’s equity to finance other needs like a home renovation project or to pay down higher interest debt.

Mortgage rates continue to trend lower, reaching year-long lows in many cases. This week, both the existing home sales and new home sales reports are scheduled for release. The Mortgage Bankers Association (MBA) weekly mortgage application survey comes out on Wednesday.

Mortgage rates have not moved significantly this week, staying near year-long lows. Lower rates led to a significant increase in refinance mortgage applications. The National Association of Home Builders (NAHB) housing market index improved. Housing starts fell but building permits jumped.

With new guidelines set to become effective on October 15, 2019, condominium financing will become more accessible for FHA borrowers. Previously, to finance a condominium unit with an FHA loan the condo project had to meet approval requirements. With the new policy, individual condo units that are not part of an FHA-approved condo project can still be eligible for FHA financing. The policy change is a response to the need for more affordable options for first-time home buyers in today’s competitive market.

After budget and location, the number of rooms and the square footage are among the top factors home buyers consider. However, when you’re buying a new home, bigger isn’t always better. Touring the actual homes you’re considering purchasing, rather than just relying on the reported square footage, allows you to see how the home is setup. A larger home with poorly used space won’t serve you as well as a smaller home with the right layout. When you see a home within your budget and a larger than expected square footage, take a tour with your Realtor or real estate agent. Make sure the layout suits your needs and you don’t get stuck with unusable space.

When you’re buying a home, especially for the first time, working with a Realtor or real estate agent can help you avoid any rookie mistakes. Lifestyle blog, Apartment Therapy, polled real estate agents from around the country to identify the most common first-time home buyer mistakes, and how you can avoid them.

The Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index (MCAI) revealed it was easier to get a jumbo loan in June 2019 than it has been in the past eight years. All types of mortgage loans saw increases in credit availability, but jumbo loan credit availability marked the 6th straight month of increases. Home buyers use jumbo loans to finance homes with purchase prices higher than the conforming loan limits.

Mortgage rates have fallen to year-long lows, amidst the Federal Open Market Committee’s vote to cut rates. This week, there are several important housing reports ahead including the Mortgage Bankers Association (MBA) weekly mortgage application survey, the National Association of Home Builders’ (NAHB) housing market sentiment index, and housing starts and building permits.

Choosing the right Realtor or real estate agent will greatly influence how your home purchase goes. Your Realtor or real estate agent will connect you with the right listings in your community and be your number one advocate when it’s time to make an offer. Forbes polled leading real estate executives from its Forbes Real Estate Council and found these top five things to look for when choosing a Realtor or real estate agent.

We all have savings goals we are trying to reach. While we generally can’t change when we need to buy something, we can change how we buy it. Buying used instead of new can help you save substantially on some more expensive necessities. Whether you’re saving to pay down student loans, buy a home, or invest elsewhere, these simple strategies can help boost your savings efforts.

The latest CoreLogic monthly Loan Performance Insights Reports revealed Americans are better at making their mortgage payments on time than they have been in the past two decades. A delinquent mortgage is defined as a mortgage that has been past due for 30 days or more. As of April 2019, the national mortgage delinquency rate dropped to 3.6%.

Last week, the Federal Open Market Committee voted for its first rate cut in 10 years. Mortgage rates reacted by trending downward. This week, the only significant housing report will be the Mortgage Bankers Association (MBA) weekly mortgage application survey. Other market-moving reports include the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) and consumer credit.

In a widely anticipated move, the Federal Open Market Committee voted to cut the federal benchmark interest rate by .25 bps. Mortgage rates trended slightly lower following the announcement. The S&P CoreLogic Case-Shiller home price index showed home price appreciation has continued to slow down in many metros across the country. Pending home sales continued to increase.

With foreclosure and distressed property sales at an all-time low, investors are looking for new ways to satisfy the growing demand for single-family rental homes. Today, distressed properties account for just 2% of home sales, down substantially from the high of 49% in March 2009. At the same time, renters are shifting away from apartments and multifamily living and seeking single-family homes. Home builders around the country are seizing this opportunity to build homes to rent.

Homeowners switch to solar panels to reduce energy costs and lower their environmental impact. As an added bonus, Zillow researchers uncovered that homes with solar panels sell for 4.1% more on average that similar homes without solar power. The value of adding solar panels to your home varies depending on the market. On the lower impact end of the spectrum, homes in Riverside, CA sold for an average 2.7% or $9,926 more. Comparatively on the higher impact end of the spectrum, homes in New York, NY sold for an average 5.4% or $23,989 more.

The Federal Open Market Committee (FOMC) meets today and tomorrow and most analysts are expecting a quarter-point rate cut based on messaging in the Fed’s Beige Book released earlier this month. If the Fed votes for a rate cut, all interest rates will react accordingly. The cost to borrow money will decrease, possibly making it more affordable for you to take out a mortgage to buy a home or finance a vehicle purchase. However, the interest you earn from your savings account will also decrease.

The Federal Open Market Committee (FOMC) will meet on Tuesday and Wednesday of this week, and a rate cut is widely expected. Federal Reserve Chair Jerome Powell will host a press conference at 2:30 ET on Wednesday. In housing news, the S&P CoreLogic Case-Shiller home price index and the pending home sales index will both be released on Tuesday.

Mortgage rates have not moved drastically this week, trending somewhat lower according to some sources. Home price appreciation has also slowed, according to the Federal Housing Finance Agency (FHFA) house price index. Existing home sales fell, but new home sales rebounded.

One of the ways to make money through a real estate investment is to buy a home to sell or “flip.” Although some flips, especially the ones featured on reality television, involve distressed or foreclosed properties, this will vary greatly depending on the property you buy. Buying a distressed property may mean a lower buy-in price but buying a livable home in an area with rapid home price appreciation could also yield a sizable profit. With the popularity of house flipping shows plus a surge in house flipping following the Financial Crisis, many potential real estate investors have false preconceived notions about what goes into the purchase and resale of a home for profit. Realtor.com contributor, Terri Williams, reveals some of the most common house flipping myths you might believe.

Things are heating up this summer, and chances are your energy costs are inevitably going to go up. Home-energy monitoring company, Sense, reports the average cost to air condition a home in the United States is about $147.82. This figure varies widely based on geography, with a median cost of $292.90 per home in the Sun Belt and $95 per home bordering Canada. Most homeowners need to air condition their homes at least for some part of the summer, but there are ways to do so and save.

Mortgage rates may be on a downward trend, but home buyers in many metros are still facing out of budget home prices. Researchers at Realtor.com found half of today’s home shoppers are expecting to purchase a property under $288,000. Unfortunately, that’s 9.1% or $27,000 lower than the median sales price of homes on the market. In order to bridge that price gap, Realtor.com estimates the market needs roughly 94,000 more homes priced between $100,000 and $340,000, a 15% inventory increase on a market already starved of inventory.

Mortgage rates continued to stay low last week, especially with speculation about a rate cut later this year. This week, the Federal Housing Finance Agency will release its housing market index. Additionally, existing home sales and new home sales are both scheduled for release.

It’s easy to fall in love with a home at first sight – there’s a reason they call it curb appeal! Looking beyond a beautiful exterior could help you find costly dangers lurking within. Some of the common reasons home sales fall through include pending permits, undisclosed insurance claims, pests, water damage, and structural damage. A home inspection should unearth most potential problems but doing your due diligence before you make an offer can also protect you from falling for the wrong home.

In a busy market, selling your home through real estate startups that buy homes directly from buyers may be a tempting offer. Startups like Knock, Offerpad, and Opendoor solicit bids from “iBuyers” willing to buy its customers’ homes. A recent MarketWatch investigation found that sellers who sell their homes this way, net 11% less than sellers who sell their homes the traditional way on the open market. Especially when fees and other costs are considered.

After a steady climb throughout 2018, 2019 has seen the opposite in mortgage rate activity. Average mortgage rates continue to trend lower. Mortgage software and analytics firm, Black Knight, reported that at the end of June, approximately 8.2 million homeowners could benefit from a mortgage refinance. This figure is nearly 4.5 times greater than the number of potential refinance candidates at the end of November 2018.

Mortgage rates did not move significantly last week, trending slightly lower amidst speculation that the Federal Open Market Committee may vote to cut the federal benchmark interest rate. Coming up this week, the National Association of Home Builders (NAHB) will release its monthly housing market sentiment index. Housing starts and building permits, and the Mortgage Bankers Association (MBA) weekly mortgage application survey are also scheduled for release.

Mortgage rates stayed low this week, trending downward according to some sources. Consumer credit expanded for the second month in a row. Job openings fell in May, but could bounce back, especially after the strong jobs report last week. New purchase mortgage applications increased but refinance applications are down.

When it comes to buying a home, the first question most home buyers ask is “can I afford to buy a home?” There are numerous factors that influence whether or not you can afford to buy a home. Home prices may be rising rapidly in one area but may be level just a half-hour drive away. One loan program may mean high monthly payments, but another could be closer to your budget. If you find yourself answering “no” to the question of whether or not you can afford to buy a home, consider these solutions below.

When it comes to financial decisions, consumers’ biggest disadvantage is lack of financial education. Feeling more comfortable and confident with financial decisions will help you get the most out of your money, save for your future, and better understand your financial picture. Certified Financial Planner® and the Motley Fool contributor, Matt Frankel, revealed the top money mistakes he sees his clients make and how you can avoid them.

The need to buy a home is often triggered by milestones like starting a family, children reaching school age, or career movement. It’s not surprising that almost half of all home buyers and one-third of renters who moved in the past year had children under 18 living at home. Zillow’s 2018 Consumer Housing Trends Report found that buyers with young children were more likely to go over budget than buyers without children. Having children significantly changes home buyer wish lists and, in some cases, makes it more difficult to compromise.

Mortgage rates are still hovering around year-long lows, following dovish remarks by the Federal Open Market Committee at their June meeting. This week, the only significant housing report will be the Mortgage Bankers Association (MBA) weekly mortgage application survey. Other market-moving reports include consumer credit and the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS).

Own a home with a garage? Realtor.com reports garage space ranks just as high as an updated kitchen for some prospective home buyers. If you are interested in upgrading your garage before selling your home or just looking for ways to repurpose unused garage space, review these top garage renovation ideas. Keep in mind the temperature of your garage, especially during the summer. Most of these renovation ideas may require an HVAC upgrade or other heating and cooling system.

Summer is in full swing and if you’ve spent any time waiting in line or shelling out fees to use a community pool, you may be day dreaming about having a pool of your own. Buying a home with a pool could mean endless summer fun and even a higher resale value when it’s time to move. It could also be a potential pitfall if you don’t do your due diligence or properly maintain the pool. Realtor.com contributor Sally Herigstad compiled this list of crucial lessons she learned when buying a home with a pool seven years ago. Take note!

For the past few years, home buyers have faced a competitive market with a limited number of homes for sale. One of the chief factors impacting housing supply is the Baby Boomer generation. Baby Boomers are staying in their homes longer, instead of downsizing or moving into retirement communities. This trend has kept previous generations, who are homeowners, in their starter homes longer, preventing would-be first-time home buyers from entering the market.

Mortgage rates continue to trend lower. This week in housing news, US construction spending comes out on Monday followed by the Mortgage Bankers Association (MBA) weekly mortgage application survey on Wednesday. Other market-moving reports include the ADP employment report.

Mortgage rates continue to swing lower, amidst the Federal Open Market Committee’s decision to leave rates unchanged. Home price appreciation was flat month-over-month but up marginally year-over-year. New home sales declined, but pending home sales are up.

You’re almost there! You’ve found the perfect home, you’re approved for your mortgage, and you’ve even picked out your new doormat to welcome everyone to the housewarming party you’re planning. It can take anywhere from a few days to a few weeks to get to your final closing date and certain financial missteps could jeopardize your transaction.

Buying a home can be an emotional experience, especially for first-time home buyers. Your new home is going to be the place where you host your holidays, raise your family, and make happy memories. It’s easy to get caught up in the home search. However, a seemingly simple mistake could cost you when it comes to the closing table.

With today’s historically low rates, you may be considering buying your first home. Buying a home is the first step most Americans take toward building wealth in the form of home equity. A recent Fannie Mae survey of 3,647 consumers revealed that a staggering number of respondents vastly overestimate what it takes to get a mortgage.

Last week, the Federal Open Market Committee (FOMC) voted to leave the benchmark interest rate unchanged. Mortgage rates reacted by holding steady. This week, the S&P CoreLogic Case-Shiller home price index, new home sales, and the pending home sales index are all scheduled for release.

In the first 4 installments, we covered overall refinance rules and a detailed review of cash-out refinance rules. In this installment, we will cover the specifics of an Interest Rate Reduction Refinance Loan transaction.

A new practice called “house hacking” is a new name of an old concept, that is getting popular again, especially in expensive markets. Homeowners rent out one or more rooms in their home, through short-term rental sites or other rental agreements, to help with the cost of their mortgage and even make a profit. Some homes, like duplexes or homes with mother-in-law suites, are more conducive to renting, while others may require some modifications.

Lending money to friends and family, when you are financially able, can be a good way to help someone out and can also be a tricky subject depending on the outcome. Children may borrow money from parents to attend college or buy a car, siblings may borrow money from each other to pay for an unexpected healthcare cost, and a friend may borrow money to start a business. If you are considering lending money to a friend or relative there are ways to help them out and still protect yourself.

One of the first steps to buying a new home is setting a reasonable budget. Getting preapproved for mortgage financing will help you determine how much home you can afford and where you should start looking. Most mortgage professionals recommend setting a budget below the amount of loan you qualify for, to avoid stretching your finances. The cost of buying a home comes with the down payment, closing costs, and other ongoing maintenance and renovation costs that may come up during the first few years of homeownership. A new study from real estate brokerage, Owners.com, found that an alarming 38% of home buyers exceeded their self-imposed budgets over the past four years.

Mortgage rates did not move much last week, continuing to hover around historically low levels. The Federal Open Market Committee (FOMC) will meet Tuesday and Wednesday of this week. Some economists are suggesting a rate hike is warranted, as inflation slows and economic growth loses steam, while others predict the Fed will hold its course of leaving rates unchanged. Other important housing reports scheduled for release include the National Association of Home Builders (NAHB) housing market sentiment index, housing starts and building permits.

VA created 2 forms for the Comparison Certification. The first is the estimated or proposed comparison and the second is the final comparison. Like a Loan Estimate, the proposed comparison must be accurate, but not necessarily perfect. It can be changed if the circumstances change, and then reissued. The final comparison is just as important as the final Closing Disclosure. It must be accurate without exception.

It’s no secret, accumulating a down payment is the biggest obstacle many first-time home buyers face. Between rising rents, higher home prices, and the pervasive myth that you need to put down at least 20% to buy a home, determining how much you need to save for a down payment varies. A larger down payment will usually reduce or eliminate the cost of mortgage insurance, and may lower the monthly mortgage payment, but you don’t need to put everything you have saved toward your down payment. Buying a new home will have costs associated with it like urgent upgrades, home maintenance, and the closing costs on your mortgage.

The thought of smart home devices may conjure the idea of tech-savvy millennials using smart thermostats to regulate temperatures or smart appliances to maximize efficiency. However, smart home technology can also help older homeowners. As more and more retirees plan to age in place rather than downsizing or moving into a retirement community, smart home technology is making the transition easier.

One of the major changes to the 2017 Tax Cuts and Jobs Act (TCJA) may soon be up for debate in Congress. Representative Mikie Sherrill (D-NJ) recently addressed state and local tax (SALT) deduction limits at a town hall in Bloomfield, NJ. Under the TCJA, taxpayers, regardless of income, cannot deduct more than $10,000 of total state and local taxes, including property taxes. This deduction cap disproportionately impacts residents of higher tax areas, like New Jersey, New York, and elsewhere.

Mortgage rates continued to fall this week. US construction spending was unchanged. New purchase mortgage applications declined, but refinance applications are up. The ADP employment report added fewer jobs than expected.

After trending upward throughout 2018, 2019 has seen very little interest rate movement. In fact, average mortgage rates continue to trend toward year-long lows. Federal Reserve Chair Jerome Powell announced the Federal Open Market Committee (FOMC) would pause raising interest rates for the rest of the year. With today’s low rates, many homeowners could benefit from a rate and term refinance, or a refinance that lowers the mortgage rate or shortens the mortgage term. Making the decision to refinance your mortgage loan could help you lower your monthly mortgage payment, remove mortgage insurance, or even take cash out to fund a renovation project or other expense. Keep in mind, a mortgage refinance is a new loan origination and with that comes closing costs. With interest rates at 2019 lows, many homeowners are wondering, is it time to refinance my mortgage loan?

Your credit score is influenced by five differently-weighted components including payment history (35%), total amount owed (30%), credit history (15%), credit mix (10%), and new credit (10%). Banks and lenders use your credit score to determine whether or not you are a good candidate for a loan or a line of credit. Even if you are not planning to buy or refinance a home this year, it’s good to practice to build positive credit habits to maintain a positive score. Most financial experts recommend taking six months to a year to improve your credit before you apply for a mortgage loan.

The only housing report of significance this week will be the Mortgage Bankers Association (MBA) weekly mortgage application survey. Other market-moving reports include the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) and the consumer price index.

Federal Housing Finance Agency (FHFA) Director Mark Calabria shared his thoughts surrounding the future of Fannie Mae and Freddie Mac at the recent National Association of Realtors (NAR) Regulatory Issues Forum. Fannie Mae and Freddie Mac became government-sponsored entities (GSE) following the financial crisis and despite returning to profitability years ago, the two remain under government control. Advocates in favor of releasing Fannie Mae and Freddie Mac from conservatorship believe private ownership will lead to a more competitive mortgage market. Those who oppose worry we will see a repeat of the financial crisis, especially if the proper precautions are not taken.

Mortgage rates are still low and have not moved much in recent weeks. This week in housing news, the US construction spending report comes out today and the Mortgage Bankers Association (MBA) weekly mortgage application survey comes out on Wednesday. The ADP employment report is also scheduled for release.

Average mortgage rates continued their downward trend this week. Both the S&P CoreLogic Case-Shiller home price index and the Federal Housing Finance Agency (FHFA) house price index indicated that home price appreciation is also slowing down. Pending home sales are down.

You may have heard the terms “good debt” and “bad debt” used before. Certified Money Coach, TED Speaker, and author, Tammy Lally defines “’good’ debt is an investment of money that grows in value or generates long-term income” and “’bad’ debt works against you from the onset.” Americans take out loans and lines of credit to finance all kinds of purchases from weekly groceries to a new home. As a consumer, it’s important to understand the differences between these types of debt and how to use credit responsibly to maintain a good credit score and get approved for future loans and lines of credit.

Today, it’s not uncommon to have multiple generations living in the same home. Between adult children returning after college and parents living longer, Baby Boomers are often called the “sandwich generation” as they simultaneously care for their children and parents. In fact, 41% of American home buyers consider the need to accommodate an elderly parent or adult child when they are shopping for a home. After decades of building detached single-family homes, some home builders are shifting gears toward accommodating multiple generations under one roof.

Millennials may have an even harder time shaking the “parents’ basement dwellers” moniker after recent data from an Urban Institute study. While a large share of recent college graduates move back into their parents’ homes with the intention of saving money in a no-or-low-rent environment, they may actually be hurting their chances at homeownership. From the study, young adults who live with their parents between the ages of 25 and 34 are significantly less likely to be homeowners ten years later.

Markets will be closed today, in observance of Memorial Day. Coming up this week, the S&P CoreLogic Case-Shiller home price index and the Federal Housing Finance Agency (FHFA) house price index are scheduled for release on Tuesday. The National Association of Realtors (NAR) will release its pending home sales index on Thursday.

Mortgage rates trended slightly lower this week and continue to hover around year-long lows. Existing home sales dropped in April. New purchase mortgage application submissions decreased but refinance application submissions increased. New home sales are also down.

When we retire, we get the freedom to stay in our current home or move somewhere else. Both choices come with their own advantages and challenges. Staying in the same home means your mortgage may already be paid off, you’ll be close to your existing community, and you will not have to deal with the cost and stress of moving. Moving somewhere new may give you the opportunity to downsize or move into a home that better suits your changing needs, connect with a new community, and gain a new experience. MarketWatch contributor, Erin Rook, interviewed retirees around the country to find out what factors they considered when choosing to retire in place or move somewhere new.

In 2018, the United States suffered 14 natural disasters spanning coast to coast from wildfires in California to hurricanes in Florida. The National Oceanic and Atmospheric Administration (NOAA) reports natural disasters cost the United States $91 billion in damage, marking the eighth consecutive year that eight or more natural disasters resulted in billion-dollar level damage. As climate change continues to warm the atmosphere, natural disasters are only expected to increase in frequency and severity and home insurers are lagging behind. Rising construction costs lead to costlier repairs that many home insurers are not prepared to cover.

No matter what the market is doing, home sellers will face various challenges throughout the process. Forbes contributor and CEO of Las Vegas Homes by the Brooks Team, Jim Brooks, outlined five specific challenges home sellers will face in 2019.

Mortgage rates continue to trend downward, amidst some uncertainty surrounding global trade tensions. There are very few economic reports scheduled for release this week. In housing news, existing home sales and the Mortgage Bankers Association weekly mortgage application survey are scheduled for release. The weekly jobless claims report comes out on Thursday.

Mortgage rates continued to follow a downward trend this week. However, both new purchase and refinance mortgage application submissions declined. Home builder sentiment improved. Housing starts and building permits each increased.

Real estate investment is a common choice for those who are looking to invest in something more stable than the stock market. While stocks go up and down, most homes tend to steadily appreciate over time, and when there is a change in a housing market it’s typically gradual. Before you choose to invest in real estate, it’s important to understand how to make money from your real estate investment.

When you’re buying a home in a competitive market, some home buyers choose to write a personal letter to accompany their offer to make an emotional connection and stand out to the seller. Buying a home is a personal experience, especially if the seller has lived there for many years. A personal letter could be the extra push you need to get your offer accepted; it could also sour the deal.

It’s no secret that the down payment is the biggest obstacle would-be home buyers face. Saving for a down payment has become increasingly difficult as home prices rise, rents go up, and student loan debt reaches record highs. While it may not be surprising that home buyers are using down payment assistance, it may be surprising that some of that assistance is coming from home sellers themselves.

Mortgage rates have not moved much this week and will likely stay low for the rest of the year, following the Federal Reserve’s decision to pause rate hikes. This week, the National Association of Home Builders (NAHB) will release its housing market sentiment index. Housing starts and building permits and the weekly mortgage application survey are also scheduled for release.

Mortgage rates have not moved significantly this week, following the Federal Reserve’s decision to leave rates unchanged. Job openings increased, as the labor market continues to show strength. Consumer borrowing slowed but was still positive. Both new purchase and refinance mortgage application submissions turned around after several weeks of declines.

You know you’re going to finance your new home purchase with a mortgage, but where do you start? There are plenty of ways to save money on your mortgage and it all starts with working with the right mortgage lender.

Buying a home is a big financial commitment, and it’s no secret that it gets expensive, between the down payment, closing costs, and other fees. When you are making this big of a purchase, you will probably be looking for ways to save. Apartment Therapy contributor, Kate Streit, interviewed real estate experts nationwide to compile this list of the top four things you should never skimp on when buying a home.

What do you love most about your home? A recent survey conducted on behalf of the National Association of Landscape Professionals (NALP) suggests it may be your lawn. From the survey, 81% of Americans have a lawn or yard and 79% say that a lawn or yard is one of the most important features when buying or renting a home. A nice sized lawn ranked second behind a kitchen renovation, and the sentiment was shared by all generations.

Last week, the Federal Open Market Committee voted to leave the federal benchmark interest rate unchanged. Mortgage rates reacted accordingly but did not move significantly. This week, the only housing-related report will be the Mortgage Bankers Association (MBA) weekly mortgage application survey. Other market-moving reports include the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) and consumer credit.

Most mortgage and real estate professionals may believe that a Veteran cannot pay for the pest inspection on a home purchase using a VA Guaranteed home loan. However, that’s one of the most misunderstood issues in the industry today!

The Federal Open Market Committee met on Tuesday and Wednesday of this week and voted to leave the federal benchmark interest rate unchanged. In turn, mortgage rates did not move significantly. The S&P CoreLogic Case-Shiller home price index appreciated at the slowest clip since September 2012. The pending home sales index exceeded expectations.

When you’re done purging your closets and clearing out the garage or basement, remember the rest of your home! Spring is the perfect time of the year to tackle some home maintenance tasks you may have put on hold during the busy holiday season or colder winter months. Your home deserves a facelift too!

Whether you are paying down student debt, saving for the down payment on a home, or trying to achieve another financial goal – sometimes asking a simple question could save you hundreds or thousands of dollars. CNBC contributor Alicia Adamczyk identified these five questions many Americans have not asked, or did not know they could ask, that can help them save money.

Home equity increases over time as the homeowners makes payments toward their mortgage balance and their home appreciates. As home values continue to rise, tappable home equity has increased substantially. In the fourth quarter of 2018, Black Knight reported that American homeowners had a collective $5.7 trillion in tappable equity. In fact, CoreLogic data showed from 2017 to 2018, the average homeowner gained almost $10,000 in home equity.

Mortgage rates did not move significantly last week, continuing to hover near year-long lows. This week, the Federal Open Market Committee (FOMC) will meet on Tuesday and Wednesday. The S&P CoreLogic Case-Shiller home price index and pending home sales index are also scheduled for release.

Mortgage rates have not moved significantly up or down this week, ahead of next week’s Federal Open Market Committee (FOMC) meeting. The FOMC is not likely to raise interest rates during this meeting. Existing home sales are down but new home sales are up. Home price appreciation continues to slow.

Despite some obstacles that first-time home buyers face when starting their home search, a recent study from the Federal Reserve Bank of New York suggests the share of first-time home buyers has remained stable over the past 17 years. On average, first-time home buyers make up a little less than half of total home buyers on the market, 46% in 2016. To help lenders and other real estate professionals cater to first-time home buyers, the New York Fed released this analysis of today’s first-time home buyer and their specific needs.

As natural disasters like hurricanes and wildfires grow more prevalent each year, researchers have compiled the data to show their lasting financial impact. The Urban Institute identified zip codes where households received financial assistance from the Federal Emergency Management Agency’s Individuals and Households Program to determine the long-term effects natural disasters have on residents’ credit scores and finances.

A recently released study from Move.com showed 60% of home shoppers are willing to consider a home renovation project after they purchase their home. Whether it’s the HGTV effect, or limited homes for sale, more than half of survey respondents are willing to spend in excess of $20,000 on home renovation and 28% are willing to spend between $10,000 and $20,000. Additionally, 95% of respondents expect a return on their renovation investment.

Mortgage rates trended slightly upward last week but continue to hover around year-long lows. This week, the existing home sales and new home sales reports are both scheduled for release. The Federal Housing Finance Agency will also release its home price index.

Are you looking for a home in today’s busy market? Buying a home can be an emotional experience, and it’s easy to get swept up making such a big decision. Whether you’re in the middle of your home search or just starting, look for these seven signs you’ve found the perfect home.

Earlier this year, the city of Abilene, Texas joined a growing number of communities to end Veteran homelessness. With the help of a national program called Built for Zero, Abilene city officials were able to leverage community data to track homeless Veterans on a case-by-case basis, identify the causation of their chronic homelessness, and allocate resources effectively.

Zillow, a free real estate marketplace resource, has invested in improving the accuracy of its popular “Zestimate” tool. When it launched in 2006, the price estimate feature had a margin of error of about 14%, giving some homeowners and home buyers unrealistic expectations when it came time to buy or sell. Today, that margin of error has improved to about 4.5%. In 2017, Zillow launched a competition to improve the accuracy of the Zestimate. Approximately 4,000 teams of data scientists and engineers from 91 countries participated. Zillow hopes to reduce its margin of error to 4% by the end of this year.

Mortgage rates did not move significantly last week, trending slightly upward after this year’s initial decline. Looking ahead this week, the National Association of Home Builders will release its housing market sentiment index on Monday and housing starts and building permits are scheduled for release on Friday. Weekly reports include the Mortgage Bankers Association (MBA) mortgage application survey.

Mortgage rates have not moved significantly this week, trending slightly upward according to some sources. There were fewer job openings in February than in January, as expected. Mortgage application data was mixed, with refinance applications falling off and new purchase applications up slightly. The consumer price index increased, due to rising electricity and gasoline costs.

Mortgage rates are trending downward, following the Federal Open Market Committee’s (FOMC) decision to pause raising rates this year. As rates fall, more and more homeowners could benefit from a mortgage refinance. According to a recent report from Black Knight, 4.9 million American homeowners could reduce their mortgage rate by at least 0.75% if they refinance now, a 1.6 million week-over-week increase.

MarketWatch contributor Kari Paul recently profiled an unsuspecting Seattle home buyer, who lost his $123,000 to an unfortunate wire fraud scam. Aaron from Portland received email instructions to wire the down payment funds to someone impersonating a representative from his title insurance company. He completed the request, and the money was wired to a scammer’s bank account instead of the title company. Today, the defrauded home buyer is a spokesman for the title company, sharing his story with others as a warning.

Spring is in the air – and so are “For Sale” signs. Traditionally, Spring and Summer are the busiest seasons for home buyers and sellers, thawing out after the slower winter months. Housing professionals anticipate this Spring to be especially busy, with improved affordability for home buyers. While 2018 ended with higher mortgage rates and home prices, the early months of 2019 have brought lower mortgage rates plus a slowdown in home price appreciation. Recent data shows consumer house-buying power has increased 2.3% from December 2018 to January 2019, and the trend is expected to continue.

Mortgage rates continued to trend lower last week, leading to a surge in refinance mortgage activity. This week, the only significant housing report will be the Mortgage Bankers Association (MBA) weekly mortgage application survey. Other market-moving reports include the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) and the consumer price index.

Earlier this quarter, the Mortgage Bankers Association (MBA) reported the average size of a fixed-rate mortgage nationwide was $280,900 and the average size of an adjustable-rate mortgage nationwide was $688,400. A fixed-rate mortgage will retain the same interest rate throughout the term of the loan, whereas an adjustable-rate mortgage will fluctuate based on market conditions and other factors. Adjustable-rate mortgages typically have a lower introductory interest rate than fixed-rate mortgages of the same size and terms and may be a more affordable option for homeowners who plan to move or refinance the loan after a few years.

Tax Day, or the last day for tax payers to file their income taxes, is Monday, April 15th. If you haven’t filed your taxes yet, it’s time to get started! Early last year, Congress passed the Tax Cuts and Jobs Act (TCJA), the most sweeping tax reform legislation in decades. The biggest change was the increase in the standard deduction: $12,200 for individuals, $18,350 for heads of household, and $24,400 for married couples filing jointly. Since the standard deduction has increased so significantly, homeowners may need to more closely calculate their home expenses to determine whether or not their total sum exceeds the standard deduction.

Last week, President Trump signed a memorandum calling for an “overdue reform of the housing finance system,” including an end to the conservatorship of the Government-Sponsored Enterprises, Fannie Mae and Freddie Mac. In Wednesday’s White House release, the president expressed a desire to work with Congress to initiate comprehensive housing finance reform and increase competition in the mortgage market.

Mortgage rates continue to fall, following the Federal Open Market Committee’s March meeting. Coming up this week in housing news, the February construction spending report comes out on Monday, followed by the weekly mortgage application survey on Wednesday. Other market-moving reports include the ADP employment report.

Mortgage rates continue to slide downward, following the Federal Open Market Committee’s decision to ease back on rate hikes this year. After an exceptionally strong January, February’s housing starts and building permits declined. The S&P CoreLogic Case-Shiller home price index posted the slowest annual rate of growth in seven years. New home sales exceeded expectations.

If you’re in the market for a home, or if you’ve bought or sold a home, you probably know that the Realtor or real estate agent does not get paid commission until the transaction is complete. A new report from Clever Real Estate, an online platform that connects home buyers and sellers with agents, had some startling results. Out of 1,000 homeowners selling their home around the country in 2019, an astounding 45.5% thought the home buyer paid the buyer’s agent’s commission.

Heavy rains and rapid snowmelt following last week’s “bomb cyclone” have caused severe flooding throughout the Midwest including Nebraska, Iowa, Missouri, and others. The flooding has already impacted over 8 million people in 14 states and could damage farmland from Nebraska to Iowa to Illinois down to Louisiana. National Weather Service meteorologists predict the flooding could last into the Spring, causing substantial damage to homes throughout the region.

According to a new report from Harvard’s Joint Center for Housing Studies, Improving America’s Housing 2019, home renovation and remodeling increased 6.5% from 2016 to 2017, and more than 50% since the Recession ended. In fact, remodeling spending accounted for 2.2% of total national economic activity in 2017. Homeowners staying in their homes longer combined with aging housing stock and appreciating home values has led to a surge in renovation and remodeling spending, and it’s only expected to keep growing.

The Federal Open Market Committee voted to leave the benchmark interest rate unchanged last week and signaled a pause on raising rates for the rest of the year. Mortgage rates reacted by trending downward, following Federal Reserve Chair Jerome Powell’s statement. After government shutdown-related delays, February’s housing starts and building permits and new home sales reports are all scheduled for release. The S&P CoreLogic Case-Shiller home price index will come out on Tuesday.

The Federal Open Market Committee (FOMC) met Tuesday and Wednesday and voted to leave the federal benchmark interest rate unchanged. In turn, mortgage rates plunged following the news, hovering around year-long lows. The National Association of Home Builders’ (NAHB) housing market index was unchanged in March. Existing home sales surged to the highest level in almost a year.

When you are shopping for a mortgage loan, one of the factors that will influence the overall cost is the length of the mortgage term. Mortgages are available with a range of terms, most commonly 30-year and 15-year terms but can be as short as a 10-year or 7-year terms. The length of your mortgage term will impact how much your monthly payment is and how much interest you pay over time. A longer term mortgage will have lower monthly payments, but you will pay more in interest during the term.

Approximately 14,000 homes were destroyed in two of California’s worst wildfires in 2018, equating to $19 billion in damage to residential and commercial real estate. After a year of dangerous wildfires, home builders are experimenting with more fire-resistant construction techniques. While a fully fireproof home might not be possible at this time, investing in more fire-resistant construction could prevent future damage.

The VA Loan, a mortgage loan issued by lenders but partially insured by the Department of Veterans Affairs, has become the loan of choice for first-time home buyers who have served or are actively serving in the US military. In 2007, VA Loans were used by approximately 30% of first-time home buyers who were service members. By 2016, that figure has increased to 78%, with roughly three-fourths of all service members using a VA Loan to purchase their first home.

Mortgage rates have not moved drastically this month, even trending downward according to some sources. This week in housing news, US construction spending and new home sales data are finally catching up, following report release delays due to the partial government shutdown. The Mortgage Bankers Association (MBA) weekly mortgage application survey is also scheduled for release.

Recent data shows the next most popular single-family home may be a townhouse. National Association of Home Builders (NAHB) chief economist Robert Dietz noted that over the past year, “the single-family attached market is up 24%. It’s growing eight times as fast as the overall single-family market.” Rising home prices, limited land ability, and an influx of first-time home buyers are some of the major reasons townhouses are becoming more popular.

Mortgage rates continued their downward trend this week. Mortgage applications reacted, with new purchase application submissions increasing and refinance application submissions down only slightly. US construction spending is up. New home sales are down.

The home inspection is one of the most important steps in the home buying process. You may think you have found the perfect home, but a home inspection could reveal costly and even dangerous problems that you could face down the road. When you are buying a home, it’s important to understand what a home inspection actually is, what a home inspector does, and what a home inspector does not do. Realtor.com identified some of the most common myths first time home buyers and even some repeat home buyers believe.

Mortgage rates have trended downward this month, amid notes from the minutes from the last Federal Open Market Committee (FOMC) meeting in January. This week, the FOMC will meet on Tuesday and Wednesday, but is not expected to raise the Federal benchmark interest rate. In housing news, the housing market index comes out on Monday and existing home sales will be released on Friday.

The National Association of Mortgage Brokers (NAMB) sent a letter to the Federal Housing Administration (FHA) Commissioner Brian Montgomery asking him to consider changing the FHA’s current Mortgage Insurance Premium (MIP) structure to make the product more competitive against low down payment conventional mortgage options like HomeReady by Fannie Mae and Home Possible by Freddie Mac. In the letter, 2019 NAMB President Richard M. Bettencourt Jr. explained with more low down payment mortgage options on the market, the “credit quality of borrowers using an FHA loan has deteriorated.”

Mortgage rates have not moved significantly this week, trending downward according to some sources. Construction spending declined in December, after posting strong numbers in December. New home sales surged to a seven-month high. The ADP employment report was positive.

Real estate websites like Zillow and Redfin are a great resource for home buyers or homeowners looking to get an idea of the value of a home they are interested in buying or refinancing. Like any free tools, Zillow and Redfin’s valuation estimate tools are not 100% reliable. Homeowners upgrade homes over time, some neighborhoods have homes with comparable attributes, while other homes are more spread out and very different from their nearest neighbors. Understanding that free real estate resources will not be perfect every time, who has the most accurate estimate tool: Zillow or Redfin?

Despite an increasing frequency in weather-related natural disasters ranging from wildfires in California to hurricanes in the Southeast, many Americans are financially unprepared to cover the cost of emergencies. Personal finance website GoBankingRates.com, compiled a list of the average cost of eight emergencies based on data from the Census Bureau, FEMA, HomeAdvisor, Insurance.com, and other reputable sources. The calculations reveal that emergencies are more expensive than Americans anticipate, and many Americans are woefully underprepared.

US Department of Housing and Urban Development (HUD) Secretary Ben Carson announced he plans to leave his position after President Trump’s first term. During a Monday evening interview on Newsmax TV, Secretary Carson stated, “I will certainly finish out the term. I would be interested in returning to the private sector because I think you have just as much influence, maybe more, there.”

Mortgage rates have not moved significantly this month and continue to hover around year-long lows. Economic indicators are finally catching up, after many reports including the new home sales report and US construction spending were delayed by the partial government shutdown. This week, December’s US construction spending report comes out on Monday, followed by December’s new home sales report on Tuesday. In labor market news, the ADP employment report is scheduled for release on Wednesday.

Some economic indicators continue to be delayed by the partial government shutdown earlier this year. In the housing sector, January’s new home sales report originally scheduled for Tuesday and January’s US construction spending originally scheduled for Friday, were both delayed. Of the reports released, housing starts declined and building permits inched up, home price appreciation continues to slow down, and pending home sales increased.

Investing in a home renovation or remodel can improve the livability of your home and even increase the resale value when it comes time to sell. When you choose to renovate your home, you may want to consider what projects will garner the most return on investment, even if you’re not selling anytime soon. Remodeling magazine released its 2019 Cost vs. Value Report, comparing the cost and return on many common home renovation projects. Out of all of the repairs evaluated, replacing a standard garage door with an upscale model, tended to recoup 97.5% of the cost when it came time to sell.

Six years ago, home builder De Young Properties built a single-family home that was a net-zero energy building. Net-zero energy refers to a building that has the potential to produce as much energy as it would consume over the course of a year. Today, there are approximately 5,000 net-zero energy single-family homes throughout the country. With new building mandates in California, there could be as many as 100,000 by the end of 2020.

After years of an increasingly competitive market, home buyers are starting to see more options this year. According to Zillow, US for-sale home inventory is up 1.2% year-over-year, meaning for the first time in over five years the housing market opened the year with more homes for sale than the previous year. 28 of the 35 largest markets saw inventory increases over the past year. The most significant inventory increases took place in the busy West Coast markets, that were experiencing some of the most severe inventory constraints.

Average mortgage rates trended downward last week, reaching 12-month lows in some cases. After getting delayed due to the partial government shutdown, the December housing starts and building permits report will come out this week. Other important upcoming housing reports include the S&P CoreLogic Case-Shiller home price index and the National Association of Realtors (NAR) pending home sales index. The new home sales report, originally scheduled for release on Tuesday of this week, will be delayed.

Mortgage rates trended slightly downward this week. Home builders are feeling optimistic to start out the year, as rates start to level off and economic conditions remain favorable. The release of the housing starts and building permits report was delayed, due to the lasting effects of the partial government shutdown. Existing home sales fell.

Part of applying for a mortgage is building your credit or improving your score. Lenders use your FICO® credit score to determine your creditworthiness and whether or not you are a good candidate for mortgage financing. Before the Financial Crisis, you could get a mortgage or other line of credit, with very little credit history, a low score, or even no score. Today, lending standards have improved greatly, and you will need higher credit to finance your home purchase. What credit score do you need to qualify for a mortgage?

Tax season is upon us and American taxpayers are in the process of filing for returns, receiving refunds, and paying taxes due. A harmless mistake or deliberate misinformation may lead to your tax return being audited. The Internal Revenue Service (IRS) chooses taxpayers to audit based on anomalies that are detected in comparison to similar returns. A taxpayer may also be audited if a relative or business partner is being audited. The IRS audits returns up to three years old. If inaccuracies come up, the taxpayer may have to pay a fee, up to $5,000 in some cases. In other cases, the taxpayer may face criminal charges like tax evasion or tax fraud.

After years of sitting on the sidelines, Millennials are getting into the housing market, in full force. The National Association of Realtors (NAR) reported in the 2018 Home Buyer and Seller Generational Trends Study, Millennials made up the largest share of home buyers compared to any other generation for the fifth consecutive year. Millennials are facing a far different housing market than previous generations and thus are changing the way the game is played in several different ways.

Markets are closed today in observance of the Presidents Day holiday. It’s a busy week ahead for housing news with the home builders sentiment index, housing starts and building permits, and existing home sales all scheduled for release.

The job market continues to fire on all cylinders, with the Labor Department reporting an increase in job openings, up to 7.53 million in December. New purchase mortgage application submissions fell and refinance application submissions were almost unchanged. The consumer price index increased year-over-year but was unchanged month-over-month as inflation cools.

Your first home – how exciting! Whether you are looking to buy your first home now, or sometime in the future, it’s never too early to do your research. With the abundance of educational materials available, you may not know where to start. Forbes contributor and Certified Financial PlannerTM, David Rae, pointed out these three things that first-time home buyers should know, before they start shopping.

The faces of student debt in America are aging. While you may associate student debt with current students and recent graduates, almost every demographic is burdened with student debt. The Wall Street Journal reports Americans 60 years and older owe a collective $86 billion in student loan debt. From 2010 to 2017, the average student loan debt owed by a senior has surged 44% to a level of $33,800. According to TransUnion, total student debt for this demographic is up 161%, the largest increase of any age group.

After years of stagnant wage growth, many Americans are starting to see a bump in their paychecks. In December 2018, the Fannie Mae Home Purchase Sentiment Index found that 24% of Americans reported their incomes were higher than one year ago, the highest jump since June 2010.

Mortgage rates trended slightly downward last week, following the Federal Reserve’s decision to slow down on interest rate hikes at the end of January. The only significant housing report this week will be the weekly mortgage application survey. Other market moving reports include job openings and the consumer price index.

Mortgage rates trended downward this week, following Federal Reserve Chair Jerome Powell’s comments after the Federal Open Market Committee meeting at the end of January. Refinance mortgage application submissions inched upward, but new purchase application submissions are down. Jobless claims dropped from the previous week. Total outstanding consumer credit exceeded $4 trillion for the first time.

Most first-time home buyers are prepared for the cost of the down payment, but not as familiar with closing costs. Self-made millionaire and experience real estate investor Barbara Corcoran said, “the biggest mistake that first-time homeowners make is they forget they need closing costs – not just the down payment of say 10 or 20 percent.”

As the economy changes, the way we buy and sell homes changes as well. What made sense for your parents, or even yourself, twenty or thirty years ago may not be relevant to today’s economic conditions. We reviewed three common real estate misconceptions that might be preventing you from making real estate moves.

With the Spring buying and selling season on the horizon, predictions are already rolling in. 2018 marked an overall slowdown for housing, after several years of rampant activity. However, Zillow Research found that some home builders are starting to lower prices on newly constructed homes, to stay competitive in their markets. The study found that 25.1% of newly constructed homes experienced a price drop in Q4 of 2018, up from 19.2% in Q1 of 2018. Home shoppers looking to buy a new home in 2019 may be able to get a deal, depending on where they are shopping.

Last week, the Federal Open Market Committee announced it would be slowing down on gradual interest rate hikes over the course of the next year. Mortgage rates reacted by trending slightly downward. This week, the only significant housing report will be the weekly mortgage application survey, scheduled for release on Wednesday. Other market-moving reports coming up include the weekly jobless claims report and consumer credit.

Mortgage rates trended slightly downward this week, following the Federal Open Market Committee’s (FOMC) announcement to slow down on interest rate hikes this year. Federal Reserve Chair Jerome Powell asserts the decision to stop hiking rates has nothing to do with the strong US economy, rather a global economic slowdown taking place in Europe and China. The S&P CoreLogic Case-Shiller home price index showed that home price appreciation has slowed, giving some buyers a much-needed break. The pending home sales index declined.

The Federal Open Market Committee (FOMC) voted to leave the federal benchmark interest rate this week, but further gradual rate hikes may be on the horizon. When the Fed raises rates, the cost of borrowing money will start to rise, including the cost of mortgage financing. Although rising rates may discourage some homeowners from refinancing, there are still many reasons to refinance, even when rates rise.

Despite the recent government shutdown, the Internal Revenue Service (IRS) announced the official tax season opened Monday, January 28th. This year will be the first year tax payers’ returns are impacted by the Tax Cuts and Jobs Act (TCJA). When you file your 2018 return, expect it to be influenced by some or all of these 8 changes.

Mortgage points or discount points are fees paid to the lender at closing to buy down the interest rate. One point is equal to 1% of the total loan amount. As mortgage rates gradually rise, the practice of buying mortgage points may start to become popular. Whether or not points will benefit you financially depends on how long you plan on staying in your home, and your loan.

The US partial government shutdown ended last Friday, as the White House and Congress reached a three week spending agreement while they continue to hash out a border security deal. The shutdown had delayed the release of some economic indicators over the past five weeks. This week, the S&P CoreLogic Case-Shiller home price index will come out on Tuesday and the pending home sales index comes out on Wednesday. The Federal Open Market Committee will also meet this week but is not expected to raise the benchmark interest rate.

The partial US government shutdown continues, delaying the release of some economic indicators, including this week’s new home sales report. Existing home sales declined, as expected, following a slow winter season. Home prices appreciated more than expected.

For many, buying their first home is the end of renting. When you are shopping for a new home, especially if you are a repeat buyer, keeping an eye on the rental market may not seem relevant to you. However, data suggests that rental prices tend to increase or decrease more rapidly than sales prices and can be a better indicator of the overall health of a housing market.

During his tenure as Acting Director of the Consumer Financial Protection Bureau (CFPB), Director of the Office of Management and Budget, Mick Mulvaney, made the decision to stop supervising lending to active duty service members. Instead, Mulvaney ordered the CFPB to wait for complaints from service members and their families to instigate investigations. The recently confirmed CFPB Director, Kathy Kraninger, sent a letter to congress last week asking for “clear authority” to supervise for compliance with the Military Lending Act.

According to a new LendingTree study, single women are outpacing single men in becoming homeowners. Single women own 22% of homes nationwide, compared to just 13% owned by single men. Out of the 50 largest metropolitan areas across the country, single women own an average of 70,000 more homes than single men do. With most women earning an average of only 80% of their male counterparts, the new homeownership data may be surprising to some. Despite the fact that many young homeowners are delaying milestones like marriage and children, they are still taking advantage of the wealth-building opportunity of home purchase.

Markets are closed today in observance of Dr. Martin Luther King Jr. Day. The US government remains in a state of partial shutdown, delaying the release of some economic indicators, including the new home sales report. The existing home sales report is scheduled to come out on Tuesday and the Federal Housing Finance Agency (FHFA) house price index is scheduled for Wednesday.

As of Friday, 1/18/19, the US government remains partially shutdown. Due to the government shutdown, the release of the housing starts and building permits reports have been delayed. Mortgage application submissions increased across the board and builder sentiment has improved.

When you are buying a new home, you may get so excited about the experience you forget about the neighborhood. Although it may seem obvious to some, real estate professionals warn new home buyers, “you can change the house, but you can’t change the location.” If you are shopping for a new home in 2019, don’t forget to look around the neighborhood before getting emotionally invested in a property. Here are six red flags Realtor.com contributor Jaime Wiebe advises prospective home buyers to watch for.

With cybersecurity of the utmost concern, all major credit reporting bureaus – Equifax, Experian, and TransUnion – offer free credit freezes for consumers who believe they are at risk. A credit freeze prevents lenders from accessing your credit report, with the intention of stopping a thief from opening fraudulent lines of credit with your personal information. While a credit freeze can protect you in the case of a stolen identity or other stolen personal information, it will also prevent legitimate lenders, like your mortgage lender, from accessing your credit report to complete a mortgage application for a new home purchase or mortgage refinance.

As the partial government shutdown enters its fourth week, Congress and President Trump have yet to reach an agreement over a budget dispute regarding border security and the possible construction of a border wall along the United States – Mexican border. Due to the government shutdown, the release of the housing starts and building permits report may be delayed. Other housing-related reports scheduled for this week include the Mortgage Bankers Association (MBA) weekly mortgage application survey and the National Association of Home Builders’ (NAHB) housing market sentiment index.

The US government is still in a state of partial shutdown, delaying the release of some economic indicators. Mortgage rates have recently trended downward, resulting in a spike in mortgage application submissions. The Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) showed the number of job openings have declined. Consumer credit expanded to a total outstanding debt of $3.98 trillion.

Whether you are buying your first home, moving up, or downsizing, buying a home should be an exciting experience. The best way to reduce stress is to have the support of the right real estate team. Internet media company, Buzzfeed, surveyed its community of Realtors and real estate agents to compile this list of the top 7 tips your agent wants you to know before you start searching for a new home.

If you are like 44 million Americans nationwide, you probably owe a share of the national $1.5 trillion student loan debt. In 2016, the average graduating student owed $37,172 in student loan debt. For most Americans, student loan debt is the first time they will take out a loan or line of credit, and the first step toward building credit. If you are eager to pay off your student loan debt early, you may want to wait. Closing a student loan account may actually hurt your credit score, because it will shorten the length of your credit history.

Do you feel like apartments are getting smaller and smaller? Unfortunately, you may actually be right. A recent study by RentCafe confirms average apartment sizes are getting smaller, and more expensive, in many major metros around the country. According to the study, the top five cities with the smallest apartments nationwide (ranging from 737 square feet to just 711 square feet on average) are Seattle, WA, Manhattan, NY, Chicago, IL, Washington, DC, and San Francisco, CA.

The only significant housing report scheduled for release this week is the weekly mortgage application survey. Other market-moving reports include the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) and consumer credit.

The US government is still in a state of partial shutdown, delaying some of this week’s economic indicators like US construction spending. Of the reports released, the Mortgage Bankers Association (MBA) weekly mortgage application survey declined, and the ADP employment report exceeded expectations.

2018’s year-end data showed housing activity has started to slow. With both existing home and new home sales falling, there are finally less buyers competing on the crowded market. After six years of sustained price gains, home price appreciation started to slow this year, dipping below 6% for the first time in six years. Managing director and chairman of the index committee at S&P Dow Jones Indices, David Blitzer, predicted, “throughout next year, prices will continue to rise on a national basis in most cities around the country, but the pace of increase will continue to slow.” This trend could be welcome news for home buyers, especially first-time home buyers.

In the spirit of new beginnings, you may be considering a home remodel or renovation this year. A home renovation is a great option to add resale value to your home or adapt the layout or design to fit your current lifestyle. If you are planning a home renovation, don’t make this big mistake. In 2017, 1 in 3 homeowners paid for some or all of their renovation project with a credit card. With homeowners spending a median of $10,000 on renovation projects, this is a dangerous debt to take on.

As we ring in the new year, the predictions are in for 2019. After several years of a red-hot housing market, activity is expected to slow, and that’s good news for home buyers. Expect home price gains to slow and less competition. Here’s what the top economists and forecasters from across the industry expect to see next year.

The US government is still partially shutdown, due to a spending dispute regarding a proposed $5 billion border wall. This week, markets will be closed on Tuesday in observance of New Year’s Day. The Mortgage Bankers Association (MBA) will release its mortgage application survey on Thursday, after last week’s hiatus. The ADP employment report and US construction spending are also scheduled to come out on Thursday.

Mortgage rates did not move significantly this week, trending slightly downward. Markets were closed on Tuesday in observance of the Christmas holiday. The US government has been partially shutdown since Thursday 12/20, following a budgetary dispute in Congress. The S&P CoreLogic Case-Shiller home price index was released on Tuesday, as planned. New home sales were delayed due to the partial government shutdown.

As the partial government shutdown continues, the overall effect on loan programs has been minimal. Each federal and government sponsored entity within the mortgage industry has been affected differently. Here is the breakdown of the effect on loan programs and processes in the coming days.

If you are a homeowner wondering how to responsibly spend a holiday bonus or upcoming tax return, consider paying it into your home. When your budget allows, making an extra payment toward your mortgage can be beneficial. You can reduce interest costs and lower your overall debt. Making extra payments is not the right move for every financial situation, so consult a mortgage professional or financial advisor before making a decision.

As the year comes to an end, taxpayers are starting to review how the new tax law will impact their 2018 tax returns. The Tax Cuts and Jobs Act (TCJA) implemented early last year, was the most sweeping tax reform passed in decades and impacted everything from corporate taxes to the size of tax deduction. However, for those who own vacation homes or rental properties, the tax law will remain largely the same.

Airbnb, the popular service for home sharing and short-term vacation rentals announced its plan to enter the home building business and start building homes designed for sharing. The new project, called Samara: Backyard, will be headed by Airbnb cofounder Joe Gebbia and begin building in 2019. The goal of Samara is to prototype a new way for homes to be “designed, built, and shared” that better caters to Airbnb’s service.

Markets will be closed tomorrow in observance of the Christmas Holiday. Last week, the Federal Open Market Committee voted to raise the Federal benchmark interest rate, as expected. This week will bring some closing housing numbers heading into the end of the year. The S&P CoreLogic Case-Shiller home price index will come out on Wednesday, followed by new home sales on Thursday, and the pending home sales index on Friday.

In a highly anticipated move, the Federal Open Market Committee (FOMC) voted to raise the Federal benchmark interest rate on Wednesday, to a range of 2.25% to 2.5%. Mortgage rates are expected to move upward to reflect the rate hike. The National Association of Home Builders’ (NAHB) housing market sentiment index declined in December. Both housing starts and building permits increased. Existing home sales also increased.

Yesterday, the Federal Open Market Committee (FOMC) voted to raise the benchmark interest rate 25 basis points to a level of 2.25 % to 2.5%. The final rate hike of the year brings 2018’s total up to four rate hikes, one more than projected in the Federal Reserve’s December 2017 statement. The highly anticipated move is reflective of strong job growth and solid consumer spending. Business investment, however, has started to moderate. At this time, the Fed predicts two additional rate hikes in 2019.

In 2012, the United States had 7.4 million abandoned homes, a historical high. When homeowners vacate their homes, commercial abandonment follows, leading to blighted neighborhoods and eventually cities. To prevent the level of regional blight that followed the Financial Crisis, urban planners and construction researchers are thinking ahead. Through the study of “domicology,” the lifecycle of the built environment, builders are building structures that once deconstructed can be repurposed or recycled.

As Millennials segue into homeownership, housing professionals are studying whether or not their preference for city living will continue. While Millennials have tended to rent near city centers early in their careers, some forecasters suspect once marriage and children come into the pictures, they will migrate to suburbs to purchase homes. However, recent data from the Journal of Planning Education and Research shows Millennials are 21% more likely to buy their first home in an urban area compared to Generation X counterparts.

It will be a full week of housing news, heading into the end of the year. The Federal Open Market Committee (FOMC) will have its final semiannual monetary policy meeting of the year on Tuesday and Wednesday, with a press conference scheduled for Wednesday afternoon. Although the stock market has experienced some volatility in recent weeks, the Fed is still expected to raise interest rates following this meeting. The National Association of Home Builders’ (NAHB) housing market sentiment index is scheduled to come out on Monday, followed by housing starts and building permits on Tuesday, and existing home sales on Wednesday.

Mortgage rates did not move significantly this week, ahead of next week’s Federal Open Market Committee (FOMC) meeting. This week’s only significant housing report, the Mortgage Bankers Association (MBA) weekly mortgage application survey, was positive with both new purchase and refinance mortgage application submissions increasing. Job openings are up and retail sales data signals the holiday spending season has started.

The US Department of Veterans Affairs (VA) has announced an increase in VA Loan limits for all loans closed on or after January 1, 2019. The VA reviews loan limits every year and adjusts according to market conditions and housing affordability.

The phrase “inventory crunch” has become common in today’s housing market, with more and more buyers competing over a limited number of homes for sale. Some of the causes of the inventory crunch are homeowners choosing to stay in their homes longer and home builders building larger. Baby Boomers opting to age in place are choosing to renovate or adapt their current homes rather than downsize or migrate, while home builders facing affordability issues with the rising cost of construction materials are choosing to build larger homes to increase their profit margin. However, with more first-time home buyers in the market for smaller homes, builders may need to build smaller to keep up with buyer demand.

Most California homeowners have insurance to protect themselves and their homes against fire damage. Following a massive blaze, like the recent destructive fires across Northern and Southern California, insurers may be looking to minimize payouts. Joshua Heffner, a Los Angeles lawyer specializing in fire-related claims, explained, “in a mass loss, they’re looking at their overall payments. They’ll do what they can to keep payments down. And they’re getting very smart about paying less.”

Last Thursday, the Senate voted along party lines to confirm Kathy Kraninger as the next director of the Consumer Financial Protection Bureau. Following Richard Cordray’s resignation last year, Mick Mulvaney, the director of the Office of Management and Budget, has served as interim director for the CFPB. Now, a little over a year later, Kathy Kraninger will take over the role.

Mortgage rates have trended slightly downward this month, heading into the slower home buying and selling season. The only significant housing report of the week will be the Mortgage Bankers Association (MBA) weekly mortgage application survey. Other market-moving reports include the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) and retail sales.

Mortgage rates have trended slightly downward, and mortgage activity has reacted. Both new purchase and refinance mortgage application submissions increased. US construction spending is down month-over-month, but up year-over-year. The ADP employment report was strong.

Last month, the Federal Housing Administration (FHA) Commissioner Brian Montgomery announced that despite economic momentum, the FHA would not be cutting mortgage insurance premiums this year. FHA Loans require an upfront mortgage insurance premium (MIP) payment, plus mortgage insurance throughout the life of the loan. Any reduction to Mortgage Insurance Premiums makes FHA Loans more affordable. FHA Loans are popular amongst first-time home buyers because of their low down payment requirements.

For most Americans, both renters and homeowners, housing is their largest expense. But how much is too much to spend on housing costs? Whether you rent or own, financial commentator and co-founder of AE Wealth Management, David Bach recommends, not spending more than 35% of your annual after-tax income on housing costs.

The Federal Reserve announced outstanding mortgage debt totaled $10.2 trillion in the second quarter of 2018, up 2.7% from the previous year, and near the all-time high of $10.7 trillion set over a decade ago. Although some may be wary of rising mortgage debt, when the economy strengthens and the population increases, total debt tends to rise. Rather than worrying about the debt, economists urge consumers to look at both sides of the ledger, debt and assets.

Heading into the end of the year, mortgage rates have levelled out after rising following September’s interest rate hike. This week in housing news, US construction spending comes out on Monday and the Mortgage Bankers Association weekly mortgage application survey comes out on Wednesday. Other market-moving reports include the ADP employment report.

Mortgage rates did not move significantly this week. Recent comments from Federal Reserve Chair Jerome Powell suggest that the Fed may be slowing down rate hikes, as interest rates reach a neutral range. Both new home sales and pending home sales declined in October, heading into the slower buying and selling season. The S&P CoreLogic Case-Shiller home price index has also started to slow, giving buyers a break from home price appreciation.

Existing home sales make up the majority of real estate transaction, especially for Millennials and first-time home buyers. The National Association of Realtors (NAR) reported 9 out of 10 Millennials bought a property that was previously owned. The 2018 Chase housing sentiment survey showed almost 70% of those home buyers expected to spend at least $20,000 on renovation projects.

The “housing first” model of addressing homelessness emphasizes the importance of stable housing before other issues like chronic unemployment and substance abuse are addressed. Real estate developer Alan Graham has taken the “housing first” approach a step further with the Community First! Village – a mix of RVs and micro-homes that shelters and employs formerly homeless people 10 miles northeast of downtown Austin, TX. Community First! Village has been so successful, that last month a 24-acre expansion began, which will include 110 RV sites, 200 more micro-homes, and a 20,000 square foot health facility.

Finding a home listing described as a “bargain” could be good news for savvy shoppers. However, the description could also be misleading, depending on where you are located. Real estate website Trulia reviewed listings from around the country to determine when a “bargain” really is a bargain.

For the third time in three years, the Federal Housing Finance Agency (FHFA) has increased the conforming loan limits securitized by Fannie Mae and Freddie Mac. After ten years of not increasing the maximum conforming loan limits on Fannie Mae and Freddie Mac mortgages, the FHFA has increased loan limits for three years in a row.

There was not much movement from mortgage rates last week, markets were closed on Thursday in observance of Thanksgiving and some markets were closed or closed early the following Friday. This week closes out November with several important housing reports including the S&P CoreLogic Case-Shiller home price index, new home sales, and the pending home sales index.

Mortgage rates did not move significantly up or down this week. Markets were closed yesterday in observance of the Thanksgiving holiday, and some banks are closed or closing early today. Home builder sentiment fell in November and builders lowered their expectations for the new year. Housing starts increased but building permits declined. Existing home sales exceeded expectations.

Getting cozy by the fire after Thanksgiving dinner? According to Zillow, fireplaces are one of the most sought-after home features. In addition to heating your home and enhancing your décor, a fireplace may actually add value to your home. Before you fire up this holiday season, here are the answers to the top five fireplace questions:

As many of us give thanks this week for our loving families and happy homes, it’s important to remember those who are more vulnerable and experiencing hardships like homelessness. Partnerships like “Hub of Hope” between Philadelphia’s SEPTA transit system and Project HOME, a social service agency, strive to reach homeless transit passengers and intervene with assistance to help them overcome their crises.

The National Association of Realtors (NAR) predicts home sales will increase in 2019, while home price appreciation starts to slow. Following 2017, the best year for home sales in over a decade, existing home sales are expected to close out 2018 down a slight 1.5% to a seasonally adjusted annual rate of 5.345 million transactions.

This week will be a short week, with markets closed on Thursday and closing early on Friday, in observance of the Thanksgiving holiday. However, there is a full week of housing news ahead with the National Association of Home Builders’ housing market sentiment index, housing starts and building permits, and existing home sales all scheduled for release.

Mortgage rates continued to hold steady last week and did not move significantly up or down. Both new purchase and refinance mortgage application submissions declined. The consumer price index had the biggest increase in nine months and retail sales exceeded expectations. Federal Reserve Chair Jerome Powell gave a speech to the Dallas Fed on Wednesday and shared his optimistic economic outlook heading into 2019.

Congratulations, you’re getting married! As soon as you’ve staged the perfect engagement photos and built your wedding website you’re probably inundated with the “Where are you registered?” question. What are you going to register for? When’s the last time you got up early enough to make waffles? Do you really need another blender? Do you think you’re going to use that pizza stone before just ordering online? Chances are you don’t really need all of the stuff people traditionally use their wedding registry for.

You know you need to protect your social security number, but did you know your children may be at risk too? Credit-reporting bureau Experian announced more than $1 million children have their identities stolen each year and warned one in four children will be a victim of identity theft before adulthood. Child identity theft can be especially detrimental to your children’s credit scores, because often it is not noticed or reported until much later, when they go to open their first bank account or apply for student loans.

Less than a decade ago, housing professionals were expecting the “great senior selloff” when Baby Boomers, born between 1946 and 1964, started downsizing and selling their larger family homes. However, a new report from Harvard’s Joint Center for Housing Studies forecasts a growth in remodeling projects as more Baby Boomers choose to age in place. According to the study, out of the 80% of Baby Boomers who own homes, two-thirds of them expect to stay in their homes and make modifications to accommodate them as they age. Rather than a glut of housing for sale, today’s buyers are instead facing a tight market.

Some markets are closed today in observance of Veterans Day, which was yesterday. This week, the only significant housing news to report will be the Mortgage Bankers Association weekly mortgage application survey. Other market moving reports include the consumer price index and retail sales.

According to a new Zillow report, it will take an average American approximately seven years to save for a 20% down payment on an average-priced home. This report assumes the worker earns the median income and saves 10% of their total earnings each month. This seven-year saving period is the longest since early 2008.

Public transit, like Atlanta’s MARTA stations, tend to take up a lot of land, leaving vacant expanses. In the late 70s, Atlanta’s public transit operator installed an amphitheater at the Five Points station with the hope of revitalizing the neighborhood and making the entertainment center accessible through public transit. However, the amphitheater failed to draw crowds and sat largely unused for decades. Today the space has been converted into a soccer field, the first of its kind to sit inside of a transit station, and the first of a network of fields sprouting up throughout Atlanta.

Midwestern states including Ohio, Michigan, and Wisconsin, sometimes known as the Rust Belt, are experiencing a revival. After the decline of manufacturing bases like Detroit, this region suffered economically. As coastal home prices increase, and more companies and businesses are choosing to migrate to the Midwest and Great Lakes regions for lower taxes and affordable housing more, causing more Millennials are to put down roots in the Rust Belt.

Election Day is tomorrow, don’t forget to exercise your right to vote in the 2018 Midterm Elections! Election results sometimes influence economic markets, so rates may experience some volatility this week. The Federal Open Market Committee (FOMC) meets Wednesday and Thursday and will release a statement Thursday afternoon. It will be a slow week for housing news, the only directly-related housing report will be the Mortgage Bankers Association (MBA) weekly mortgage application survey on Wednesday. Other market-moving reports include the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) on Tuesday.

The US economy looks like it’s heading toward a strong finish for 2018. The ADP employment report was stronger than expected and construction spending was unchanged overall, but residential spending improved. The S&P CoreLogic Case-Shiller home price index appreciated, but price appreciation has started to slow.

Mortgage loans are available with a variety of terms and interest rates to suit every financial situation. Mortgage terms can range anywhere from 5, 7, 10, 15, and 30 years and usually have either a fixed interest rate or an adjustable interest rate. The 30-year fixed-rate mortgage tends to be the most common type of mortgage loan, a stalwart for home buyers since the 1930s and 1940s. However, in some cases the 15-year fixed-rate mortgage might be the better option.

The FICO credit score is the most widely accepted credit score used by banks and lenders to determine a borrower’s ability to repay a loan or line of credit. The FICO credit score is influenced by five factors: payment history (35%), total amount owed (30%), length of credit history (15%), credit mix (10%), and new credit (10%). Early next year, FICO plans to adjust their scoring system to include how consumers manage the cash in their checking, savings, and money market accounts, the most significant change to the scoring system since the early 1990s.

Before flocking to Florida, Arizona, or another retirement hotbed, retiring Americans could consider relocating to college towns. College towns could be the next best place to retire because they are known for affordable housing, walkability, arts, cultural, and sporting activities, plus accessible healthcare services. The Balance evaluated college towns around the country to compile the top 10 for retirees.

Heading into the end of the month, there are a couple more housing reports scheduled for this week. The S&P CoreLogic Case-Shiller home price index will come out on Tuesday and the US construction spending report comes out on Thursday. In other market-moving news, the ADP employment report is scheduled for release on Wednesday.

Mortgage rates did not move significantly this week. The Federal Housing Finance Agency (FHFA) released its house price index and indicated home price appreciation has started to slow. New home sales declined, but the pending home sales index recovered.

With words like “competitive” and “inventory crunch” in the news lately, home buyers may be feeling the pressure to look at as many listings as they can. The National Association of Realtors (NAR) reported it takes an average of 10 weeks for home buyers to find the right home, down from the average of 12 weeks five years ago. While it’s always a good idea to keep your options open, real estate agents caution against viewing too many homes in one day. Overdoing it with home tours may cause you to forget details about specific houses and mix properties up.

Denver is one of the most heated housing markets in the nation, consistently leading the Case-Shiller home price index with double digit rates of annual appreciation. In 2016, over 1,000 families were reportedly moving to Denver every month. Such a sustained influx of residents has put a crunch on available housing inventory. As a result, the West Denver Renaissance Collaborative has proposed a new plan that creates more places to live without building more homes. Through the initiative, homeowners become landlords by renting out detached units on their property known as accessory dwelling units (ADUs) or sometimes “granny flats.”

With so much focus on Millennial home buyers, the next incoming generation of buyers has been slightly overlooked. According to Zillow, 3% of last year’s home buyers were born after 1995, meaning over 100,000 homeowners across the country are 23 and younger. “I’m a little surprised to see the numbers as large as they are,” commented Rob Dietz, chief economist and senior vice president for economics and housing policy for the National Association of Home Builders (NAHB).

Average mortgage rates have started to plateau, after climbing earlier this month. Although rates have started to trend upward, they are still near the lowest levels in the past decade. This week, the Federal Housing Finance Agency (FHFA) will release its house price index and the National Association of Realtors (NAR) will release the new home sales report and the pending home sales index.

Mortgage rates held steady this week with no significant movement to report. The National Association of Home Builders’ (NAHB) housing market sentiment index improved, with builders optimistic about solid buyer demand. Housing starts fell and building permits slipped slightly. Existing home sales declined.

Many Americans choose to downsize their home when they retire. Larger homes tend to require more maintenance. Aging Americans may have difficulty with the ongoing upkeep of a large home, especially when they face health changes. Some retirees also choose to relocate, either to a warmer climate or to be closer to family. A new trend is emerging among retirees who choose to downsize in retirement, converting their former home into rental properties. According to a MarketWatch survey of 6,000 landlords, nearly 10% were of retirement age.

In a recent report, CoreLogic found mortgage fraud risk increased 12% since last year. Based on the data, one out of every 109 mortgage applications had indications of fraud ranging from undisclosed real estate liabilities to questionable down payment sources to income falsification.

Earlier this month, the Senate voted to confirm Judge Kavanaugh to the Supreme Court, solidifying a conservative tilt. The latest balance shift has many in Washington revisiting the question of what will happen to the Consumer Financial Protection Bureau’s (CFPB) leadership structure. Previously, Kavanaugh has written that he believes the way the CFPB is currently structured is unconstitutional. He also authored the Court of Appeals decision in the PHH Corp. vs CFPB case that declared the CFPB leadership structure unconstitutional in 2016.

There is a busy week of housing news ahead, with important data scheduled for release including the National Association of Home Builders’ (NAHB) housing market sentiment index, housing starts and building permits and existing home sales. Builder sentiment was positive last month, unchanged from the previous month. Housing starts jumped, but building permits tapered off. Existing home sales were also unchanged.

Some markets were closed on Monday in observance of Columbus Day, thus it was a slow week for housing news. The only housing-related report was the weekly mortgage application survey. Other market-moving reports included the weekly jobless claims report and the consumer price index.

Debt-to-income ratio or DTI is one of the key components of your financial profile lenders review when evaluating whether or not you are a good candidate for mortgage financing. DTI thresholds vary depending on the lender and the type of mortgage loan. Generally, the lower your DTI the better, so lowering your DTI by paying down long-term debts and limiting credit card use is a good idea before you apply for mortgage financing.

Pedestrian traffic deaths reached a 25-year high last year. According to the Governors Highway Safety Association almost 6,000 pedestrians were killed in 2017. The US Department of Transportation (DOT) is working to reverse this figure with a simple street redesign currently popping up at intersections in New York City, San Francisco, and Los Angeles. By adding rubber bumpers to intersections, drivers who are turning left are forced to slow down, and even lessen the sharpness of their turn, reducing the risk of vehicle-pedestrian Collison.

Nearly ten years into economic recovery, the average American FICO score climbed again, hitting a record high of 704. 2018 marks the eighth year of credit score increases, since the average FICO score hit an all time low of 686 in the wake of the Great Recession. All age brackets saw their average FICO score increase, led by Baby Boomers and Generation Xers.

Some markets are closed today in observance of the Columbus Day holiday. Mortgage rates have started to trend upward in reaction to last month’s Federal Reserve rate hike. Mortgage applications reacted to the news, with new purchase application submissions increasing and refinance application submissions declining last week. Other market-moving reports scheduled for release this week include the weekly jobless claims report and the consumer price index.

Earlier this month, Hurricane Florence caused an estimated $20 to $30 billion of damage to commercial and residential properties throughout North and South Carolina. Unfortunately, an estimated 85% of residential property losses were uninsured, and less than 10% of properties in North Carolina had flood insurance.

In the wake of last year’s Equifax data breach, a new federal law will allow consumers to freeze and unfreeze their credit for free with all major credit bureaus. Previously, credit freezes and unfreezes cost consumers anywhere between $3 and $12 each. A credit freeze prevents lenders from pulling a credit report, thus preventing criminals from taking out new lines of credit with a stolen identity.

An alarming trend is emerging among young Millennial workers around the country. According to a recent survey from ETrade, over a third of Millennials are making withdrawals from their 401(k) plans or retirement accounts. They are using the money for everything from paying down debts, making large purchases, and going on vacations. 401(k) and other retirement plans compound interest overtime, thus increasing in value. When young workers withdraw from retirement accounts prematurely they are losing the interest they could have gained.

Last week, the Federal Open Market Committee voted to raise the benchmark interest rates, and mortgage rates reacted accordingly. This week in housing news, US construction spending report comes out on Monday and the weekly mortgage application survey comes out on Wednesday. The ADP employment report comes out on Wednesday.

This week, the Federal Open Market Committee (FOMC) voted to raise the federal benchmark interest rate for the third time this year. Federal Reserve Chair Jerome Powell cited a strong labor market and continued economic expansion as reasons for the rate hike. In housing news, new home sales jumped, and home price appreciation slowed.

In the wake of last week’s hurricane and with an especially active hurricane season expected, disaster preparedness is more important than ever. When hurricanes, forest fires, earthquakes, and other natural disasters damage your home or impact your ability to pay your mortgage you have several options. Before disaster strikes, review these ways to stay safe, physically and financially.

Many metros across the country from the Bay Area to our nation’s capital have experienced a recent influx of new sidewalk clutter in the form of dockless electric scooters. Bird, Lime, and other startups have “dropped” e-scooters in urban areas to relieve busy public transportation and give pedestrians a new, more efficient way to commute. Curbed correspondent, Sarah Goodyear, describes the dropping of these scooters to the way an unruly teenager drops laundry around the house. The new trend of “docklessness” revives the question as old as cities themselves, “who owns the sidewalk and who is responsible for keeping it clean?”

The Tax Cuts and Jobs Act (TCJA) enacted earlier this year provided the most sweeping changes to the tax code in decades. One of the most relevant changes for homeowners was the new cap for mortgage interest deductions. With tax cuts increasing wages, the savings rate improving, and the economy booming, some homeowners may consider paying off their mortgage sooner, especially with the changes to the mortgage interest tax deduction. MarketWatch columnist, Peter Morici, suggests, “The new tax law should cause many folks to consider paying off their mortgages but that is hardly best for everyone.”

The Federal Open Market Committee will meet this Tuesday and Wednesday and markets are pricing in a rate hike. Sustained economic growth, a healthy labor market, and strong consumer spending have all pushed the inflation rate toward the Federal Reserve’s benchmark and support the case for raising the benchmark interest rate. In other housing news, the S&P CoreLogic Case-Shiller home price index will come out on Tuesday and the National Association of Realtors’ new home sales report comes out on Wednesday.

Construction activity boomed in August, housing starts posted a significant increase. Building permits, however, declined. The National Association of Home Builders’ housing market index was unchanged but remains positive. Existing home sales were unchanged month-over-month but down year-over-year.

City streets and sidewalks in the United States have been engineered for decades to keep vehicle occupants and pedestrians safe. If streets include trees at all, they might be planted in small sidewalk pits, where, if constrained and with little water, they live only three to 10 years on average. Until recently, U.S. streets have also lacked cycle tracks—paths exclusively for bicycles between the road and the sidewalk, protected from cars by some type of barrier.

Amazon.com Inc.’s founder and CEO Jeff Bezos, the richest man in modern history, on Thursday stepped up his plans for major philanthropic giving by pledging $2 billion to set up the charitable “Bezos Day One Fund.”

As home prices rise, so do mortgage down payments. Many potential home buyers are dissuaded from starting their home search because of the myth of the 20% down payment. According to Down Payment Resources, home buyers younger than 37-years-old put down an average of 7%. Looking to buy a home but lacking the 20% down payment? Consider one of these popular low down payment mortgage options.

Buying a home is the biggest purchase most Americans will make in a lifetime and saving for a down payment is the biggest obstacle to making that purchase. Often, the down payment will include a significant portion of the home buyer’s life savings, especially for first-time buyers. Earlier this month, CNBC reported on a new variant of wire transfer fraud schemes targeting home buyers at the time of closing, in some cases wiping out their entire down payment savings with no chance of recouping the funds.

After years of renting in San Francisco and Oakland, we bought a home in Walnut Creek (a small city in the Bay Area) for $545,000 in 2010—when the market was relatively slow. The house was the smallest model in a 1960s neighborhood at 1,445 square feet with three bedrooms and two bathrooms. But it sat on a spacious 9,375-square-foot lot. It was a dream cosmetic fixer. Over seven years, we made it our own. We installed new interior doors and baseboards, gave away the wall-to-wall carpeting on Craigslist, and refinished the original hardwood floor. We painted the interior and exteriors, removed popcorn ceilings, and remodeled both bathrooms and the kitchen.

Contributing to an employer-sponsored 401(k) plan is an effective way to save for retirement: You get significant tax advantages, the money is automatically taken from your paycheck before you have the chance to spend it and, often, companies offer a match, which is essentially free money.

Millennials may be delaying marriage but not homeownership, according to a recent study. In 1985, 75% of first-time home buyers were married couples. Today, married couples make up 57% of first-time home buyers. The National Association of Realtors’ managing director of survey research commented, “it’s absolutely a trend. People feel fine purchasing a home without a ring.”

There is a full week of housing news ahead, with the National Association of Home Builders’ (NAHB) housing market sentiment index on Monday followed by housing starts and building permits on Wednesday and existing home sales on Thursday.

Average mortgage rates did not move significantly this week, trending downward according to Mortgage News Daily. Both revolving and nonrevolving consumer borrowing increased. Job openings surged to a record high. New purchase applications were up but refinance applications were down.

The famous line Location, Location, Location is not a joke when it comes to choosing the right neighborhood for your new home. Whether you are a first-time home buyer or moving up into your forever home, where you buy matters. Before you start your home search, determine where you want to buy. Narrow down the right neighborhood by reviewing these major influencers.

A new five-day Girl Scout Camp in Marine on St. Croix, Minnesota resulted in two habitable tiny houses built entirely by Girl Scouts in grades 6 to 12. The first Power Girls camp was hosted by the Girl Scouts River Valleys and Dunwoody and took place in Camp Lakamaga. The goal of the camp was to teach girls the skills they needed to build a home from start to finish. The products of the camp will be donated to an organization chosen by the proud Girl Scouts.

Last month, ATTOM Data Solutions released a report showing 24.5% of all mortgaged properties were equity rich in Q2 2018. “Equity rich” is defined as a home with a loan-to-value ratio of 50% or lower. Collectively, American homeowners have accrued over $15 trillion in home equity, over a trillion and a half dollars more than the highest levels before the recession. What are they doing with it?

You will need a home appraisal when you’re buying a new home, selling your current home, or refinancing your mortgage. Home appraisals are conducted by an independent appraiser to determine the value of the home. When you are selling your home and the appraisal comes in lower than expected, you could run into some difficulty including the buyer backing out of the sale or the lender denying the buyer the loan they need to purchase the home. If you’re selling your home and you get a lower appraisal than expected, here are the steps you can take to dispute it.

After an exceptionally hot summer, urban planners are investigating more ways to reduce temperatures in cities around the country. Because of the “heat island” effect, urban areas tend to be 10 to 20 degrees hotter than surrounding rural areas. AccuWeather Expert Senior Meteorologist, Tom Kines, explains, “it’s kind of like a brick fireplace; even when the fire goes out, the heat is still in the bricks. This is the same thing in a city.”

Despite the down payment obstacle, first-time home buyers continue to dominate the housing market. For the past decade, first-time home buyers have comprised the largest share of home buyers, even though affordability concerns, specifically related to the down payment, have caused many would-be first-time home buyers to delay home purchase.

Mortgage rates have not moved significantly for the past two weeks, even trending downward according to some sources. This week, the S&P CoreLogic Case-Shiller home price index will come out on Tuesday and the Mortgage Bankers Association (MBA) weekly mortgage application survey and the National Association of Realtors (NAR) pending home sales index will come out on Wednesday.

Mortgage rates have not moved much this week, trending downward according to some sources. Steady mortgage rates triggered some mortgage activity, with both new purchase and refinance applications increasing. The Mortgage Bankers Association (MBA) weekly mortgage application survey increased 4.2% week-over-week. Existing home sales and new home sales each declined and the FHFA house price index appreciated.

Even if your home is not located on a shore or beach, you may be living in a flood zone. According to the Environmental Research Letter, over 41 million Americans are currently living in flood zones, and this includes seemingly landlocked locations. In the wake of last year’s particularly devastating hurricane season, Flood Insurance is at the forefront of many homeowners’ minds. The National Flood Insurance Program (NFIP) paid over $8 billion to homeowners with flood insurance policies in 2017.

As more Millennials start to enter the housing market as first-time home buyers, an alarming trend has emerged. According to a recent Bank of the West survey of 600 homeowners ages 21-34 from, one in three took out loans against their retirement account to pay for their down payment. Saving for a down payment is one of the most commonly reported obstacles to homeownership. In fact, almost 70% of renters consider it the greatest barrier to homeownership. However, borrowing against or withdrawing savings from a retirement account could set the home buyer up for long-term financial consequences.

Mortgage rates trended slightly downward last week. There are several important housing reports scheduled for this week, including existing home sales and new home sales. The Federal Housing Finance Agency (FHFA) house price index is also slated for release.

Most home sellers are concurrently looking for a new place to live. Before you put your home on the market, the big question to answer is “should you buy first or sell first?” Each route has its own advantages, depending on your situation. If you have plans to sell your home soon, consult a mortgage loan officer to see if you should buy your new home first or sell your current home first.

Compared to previous generations, millennials have been slower to become homeowners. Factors like high student debt, sluggish wage growth, and other residuals from the Great Recession have impacted their ability to buy homes. Of the millennials who are homeowners (approximately 4 in 10), 68% have expressed buyer’s remorse, with the top concern being spending too much money on the down payment.

Mortgage rates continued to hold steady last week. This week, the home builders’ sentiment index will come out on Tuesday, along with the weekly mortgage application survey. Housing starts and building permits are also scheduled for release.

Mortgage rates have not shifted significantly this week. The Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) showed job openings have increased to the third-highest level in the report’s 18-year history. Revolving consumer credit fell slightly after last month’s surge, and nonrevolving credit increased. Both new purchase and refinance applications declined.

If you’re shopping for a home, you’re probably paying attention to what interest rates are doing. There are numerous resources available to check average mortgage rates in your area. Researching rates can give you an idea of what to expect, but the mortgage rate for your specific mortgage loan depends on several key factors.

The Federal Open Market Committee (FOMC) voted to leave the benchmark interest rate unchanged and mortgage rates did not move much following the news. This week, the Labor Department will release its Job Openings and Labor Turnover Survey (JOLTS). Consumer credit is also on the schedule. The only significant housing report will be the Mortgage Bankers Association (MBA) weekly mortgage application survey.

The Federal Open Market Committee (FOMC) met Tuesday and Wednesday of this week, and as expected, did not make any interest rate moves. Most economists are predicting two additional rate hikes this year, one in September, then another in December. The National Association of Realtors’ (NAR) pending home sales index surged after several months of tepid data. The S&P CoreLogic Case-Shiller home price index continues to appreciate.

The Federal Open Market Committee (FOMC) will meet Tuesday and Wednesday of this week and release an announcement following the meeting on Wednesday afternoon. The Fed is not likely to raise interest rates following this meeting, the market expects the next rate hike to take place later this year. The National Association of Realtors (NAR) will release its pending home sales index on Monday. The S&P CoreLogic Case-Shiller home price index comes out on Tuesday.

When it comes to money matters, expertise counts. You wouldn’t buy a home without working with a mortgage loan officer and you probably see a tax professional at least once a year to do your taxes. But when does the average consumer need to consult a financial advisor? When it comes to protecting your assets and planning for you and your family’s future, a financial advisor can help you chart your path. Some major milestones where you should consider consulting a financial advisor include marriage or divorce, family expansion, wealth changes, and retirement.

Lenders use the credit score to evaluate a potential borrower’s ability to repay the loan. Your credit score is integral to your ability to qualify for a mortgage. It can take years to build up your credit score and just a few mistakes to damage it. One pervasive credit card myth many consumers believe could actually be hurting your credit score. According to a report by CreditCards.com, over 43 million Americans, 22% of all consumers, have carried a balance on their credit card under the impression it will improve their credit score. Unfortunately, that is not the case.

Mortgage rates did not move significantly last week, continuing to hold steady. The existing home sales report comes out on Monday, followed by the new home sales report on Wednesday. The weekly mortgage application survey is also scheduled for release on Wednesday.

Mortgage rates were largely unchanged again this week, not trending significantly up or down. The National Association of Home Builders’ (NAHB) housing market sentiment index did not move up or down, with builders staying positive about buyer demand. Mortgage application submissions flipped, with new purchase applications down and refinance applications up. Housing starts and building permits each declined.

Home sellers choose the “For Sale by Owner” (FSBO) route because they believe they will earn a larger profit by not having to pay their real estate agent a commission fee. FSBO transactions tend to become even more popular in a seller’s market. In 2016, the National Association of Realtors (NAR) reported the average FSBO sales price was $185,000, compared to the average $245,000 for a home represented by a real estate agent. A staggering $60,000 difference, even despite the commission cost for the real estate agent.

With no significant mortgage rate movement to report, rates are holding steady this month. The National Association of Home Builders (NAHB) will release its housing market sentiment index on Tuesday. Housing starts and building permits are scheduled for release on Wednesday, along with the Mortgage Bankers Association (MBA) weekly mortgage application survey.

Mortgage rates did not move significantly up or down this week. It was a light week for housing news, but the Mortgage Bankers Association (MBA) weekly mortgage application survey showed a surge in new purchase mortgage applications. Consumer credit also increased substantially. The Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) cooled down after reaching a record level in April.

Buying a home when you are self-employed or own your own business will require more documentation than if you are a salaried employee with a yearly W2. In today’s increasingly mobile job market, more and more US workers are choosing self-employment over traditional payroll jobs. Freelancing is growing in popularity as workplaces become more remote. Buying a home when you’re self-employed or own your own business is possible, when you do your homework. Freelancers and small business owners can follow these tips for a smooth home buying process.

With the short week last week, mortgage rates did not move much up or down. There are no significant housing reports scheduled for this week, other than the weekly mortgage application survey set for release on Wednesday. The consumer credit report comes out on Monday and the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) will be released on Tuesday.

Markets were closed on Wednesday of this week, in observance of the Independence Day holiday. Mortgage rates did not move significantly up or down. Construction spending increased, driven by spending on public projects. The Mortgage Bankers Association (MBA) weekly mortgage application survey showed an increase in new purchase applications, but a decrease in refinance applications. The ADP employment report was gainful, but less than expected.

In the digital age, many home buyers feel they can skip partnering with a professional Realtor or real estate agent because of their access to listing websites and other online tools. While listing sites like Zillow and Trulia can help a home buyer find out what’s for sale in their area and start shopping, there are still many advantages to continuing your search with an established Realtor or real estate agent.

Staging a home is a way for home sellers to show potential buyers what the home will look like when they live there. A staged home can give the buyer an idea of where to put their furniture and how to decorate. While home staging can accentuate a home’s nice features, it can also cover up some unwanted damage.

Mortgage rates held steady last week, not moving much in either direction. This week, markets are closed on Wednesday in observance of Independence Day. In housing news, US construction spending comes out on Monday and the weekly mortgage application survey comes out on Wednesday. The ADP employment report is also scheduled for release.

Saving for a down payment is one of the biggest challenges first-time home buyers around the country face. Whether you are getting ready to buy a home, or saving for something else, everyone could use some fresh ideas to save more effectively. Lifestyle blog Refinery 29 partnered with Intuit, the maker of QuickBooks, Mint, and TurboTax, to compile this list of money-saving tips everyone can try.

Mortgage rates did not move much last week, holding steady after the rate hike earlier this month. This week, the new home sales report will come out on Monday, followed by the S&P CoreLogic Case-Shiller home price index, and pending home sales later in the week.

A mortgage application can be denied for a number of reasons. There is nothing more heartbreaking than going through the home shopping process only to have financing fall through. LendingTree reports approximately 8% of mortgage loan applications are denied nationwide. While it’s a setback, mortgage application denial does not have to mean the end of your home search. Taking these proactive steps after having a mortgage application denied can help you with your future home search.

Last week, the Federal Open Market Committee (FOMC) voted to raise the benchmark interest rate, and mortgage rates reacted accordingly. This week will be a big week for housing news, with the National Association of Home Builders’ (NAHB) housing market sentiment index scheduled for release on Monday, housing starts and building permits on Tuesday, and existing home sales on Wednesday.

In a highly-anticipated move the Federal Open Market Committee (FOMC) voted to raise the benchmark interest rate on Wednesday to a range of 1.75-2.0%. Mortgage rates reacted by trending upward. Both new purchase and refinance mortgage applications took a downturn this week, after rising the previous week. Retail sales were especially strong, suggesting sustained Gross Domestic Product (GDP) growth into second quarter.

The Federal Open Market Committee (FOMC) will meet on Tuesday and Wednesday of this week for their fourth semiannual monetary policy meeting of the year. So far this year, the Federal Reserve has raised the benchmark interest rate once. Earlier projections had slated three interest rate hikes this year. Mortgage application submissions jumped last week, as interest rates started to subside. Other market moving reports scheduled for release include retail sales, coming out on Thursday.

Mortgage rates did not move significantly this week, leveling off this month after climbing in May. The Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) showed recorded growth in job openings. Both new purchase and refinance applications turned around after several weeks of declines. Consumer credit growth was modest.

Saving for a down payment is the most commonly reported obstacle to homeownership. With rents rising and student debt accumulating, the problem is even more exacerbated with first-time home buyers trying to enter the market. As the down payment obstacle persists, the demand for down payment assistance has also continued to increase. According to a Scotsman Guide interview with Down Payment Resource CEO Rob Chrane, as of the first quarter of 2018 there are approximately 2,503 down payment assistance programs nationwide, and the demand for down payment help is likely to continue.

Mortgage rates have started to level off after climbing most of the first half of the year. This week will be a slow week for economic news, the only housing report scheduled is the weekly mortgage application survey on Wednesday. In employment news, the Labor Department will release its Job Openings and Labor Turnover Survey (JOLTS) on Tuesday. The consumer credit report comes out on Thursday.

Mortgage rates continued their downward trend this week, though there was no significant movement to report. The S&P Core-Logic Case-Shiller home price index showed home price appreciation has started to ease up as mortgage rates climb. The ADP employment report continued to show a strong labor market. Pending home sales declined, as limited for-sale inventory continues to create a competitive market.

At this year’s Mortgage Bankers Association (MBA) Secondary Marketing conference, one of the most prevalent topics of discussion was the growing market for different types of mortgage loans besides common options like the 30-year fixed rate mortgage. The 30-year fixed-rate mortgage is the cornerstone of American homeownership and has helped families nationwide become homeowners for almost a century. As the housing market changes, interest rates fluctuate, and regulations evolve, newer, more innovative mortgage products are starting to emerge. In today’s mortgage market, your mortgage should not be “one size fits all.”

Markets are closed today in observance of Memorial Day. Coming up this week, the S&P CoreLogic Case-Shiller home price index will reveal whether or not home price appreciation has started to slow down. The ADP employment report is scheduled for release on Wednesday. Thursday’s pending home sales index will help predict housing’s direction heading into the summer.

This week will be packed with housing reports including new home sales, existing home sales, and the Federal Housing Finance Agency (FHFA) house price index. New home sales surged last month and are expected to continue to strengthen with sustained buyer demand. Existing home sales increased less significantly last month, as home buyers are vying over many of the same house prices. The FHFA house price index is expected to continue to appreciate, at a more moderate pace.

Mortgage rates continued to trend upward this week. The National Association of Home Builders’ (NAHB) housing market sentiment index increased by two points with builders maintaining a positive outlook. The Mortgage Bankers Association (MBA) weekly mortgage application survey declined, pushed down by a drop in refinance applications. Housing starts and building permits each fell, but single-family home construction was positive.

Mortgage rates started to level off last week, amidst influence from global economic changes. The National Association of Home Builders (NAHB) will release its housing market sentiment index on Tuesday and it’s likely to remain positive. Housing starts and building permits come out on Wednesday. The Mortgage Bankers Association (MBA) will also release its weekly mortgage application survey on Wednesday.

A home is the first appreciating asset most Americans will own and the first step many will take toward building wealth. With rents skyrocketing around the country, the average monthly mortgage payment is typically less than the average monthly rental payment in most regions. According to a new Freddie Mac report, 67% of renters continue renting because they believe it is more affordable than buying a home.

Credit cards are no longer the “emergency use only” tools they once were. Outstanding consumer credit card debt surpassed $1 trillion in 2017, the highest it has ever been. Unfortunately, not all consumers are borrowing responsibly. According to NerdWallet, 86% of Americans who had or currently have credit card debt regret it. Using a credit card responsibly is one way to positively influence your credit score. However, not every expense should be put on credit cards. Here are some of the big-ticket expenses Experian warns, should never be put on credit cards.

Mortgage rates did not move significantly last week, holding steady after the Federal Open Market Committee’s (FOMC) decision to leave interest rates unchanged. The consumer credit report comes out on Monday, and though the report excludes mortgage financing, it analyzes other consumer borrowing habits and consumer spending. In employment news, the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) will come out on Tuesday. There are no significant housing reports scheduled for release this week, besides the Mortgage Bankers Association (MBA) weekly mortgage application survey on Wednesday.

Average mortgage rates reached year-long highs last week, ahead of this week’s Federal Open Market Committee (FOMC) meeting. The Federal Reserve is expected to continue raising rates this year, but not at the upcoming meeting on May 1st and 2nd. The US construction report comes out on Tuesday, followed by the ADP employment report on Wednesday. Strong jobs reports are supportive of continued rate hikes, but core inflation has yet to break the targeted 3.0% threshold.

Mortgage rates trended slightly upward this week. Existing home sales increased month-over-month but declined year-over-year. Home prices continue to appreciate, as limited inventory strains for-sale availability. New home sales surged, and revisions to the previous two months’ reports indicate that buyer demand in the first quarter of 2018 was stronger than originally thought.

The Department of Housing and Urban Development (HUD) and the Department of Veterans Affairs (VA) announced a budget of $43 million toward funding permanent housing solutions for homeless veterans. The funding will be distributed amongst 325 local public housing agencies with the hopes of housing over 5,200 homeless veterans.

Mortgage rates trended slightly upward last week, and mortgage application submissions surged with many buyers looking to lock rates ahead of future increases. This week, there are numerous important housing reports scheduled for release including existing home sales, new home sales, and the S&P CoreLogic Case-Shiller home price index.

Mortgage rates did not move significantly this week, trending slightly upward according to some sources. Retail sales rebounded with strength after several months of ticking downward. The National Association of Home Builders’ (NAHB) housing market index dropped by one point, but the reading was still positive. Housing starts and building permits each increased.

Last week, there was no significant mortgage rate movement to report. This week’s important housing reports include the National Association of Home Builders’ (NAHB) housing market index on Monday and housing starts and building permits on Tuesday. Other market moving reports include the retail sales report, scheduled for release on Monday.

Mortgage rates did not move significantly this week. Both new purchase and refinance mortgage application submissions declined. The Federal Open Market Committee (FOMC) released the minutes from its March meeting and the overall tone was optimistic. The Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) showed job openings dipped.

As a large share of the population approaches retirement, one of the recurring debates is whether or not to downsize. Americans are living longer than previous generations, and with that comes more expenses for medical, travel, and cost of living. These expenses combined with the upkeep and maintenance of a large home could easily exceed retirement savings. To ensure a more financially comfortable retirement, many Americans are choosing to downsize from larger homes to smaller homes. TD Ameritrade reports 42% of Americans plan on downsizing when they retire.

One of the most pervasive issues hurting first-time home buyers today is student debt. The substantial cost of higher-education pushes many young Americans to take out high-balance loans and graduate with debt in the range of tens of thousands of dollars, or higher, depending on the degree. Over 45 million Americans carry student debt, the average borrower owes more than $30,000 and one-fifth of borrowers owe more than $100,000. Student loan debt is hurting homeownership in a number of ways, because it lessens the borrower’s ability to save for a down payment and closing costs, it increases the borrower’s debt-to-income ratio, and in some cases negatively impacts the borrower’s credit score.

This week will be a light week for housing news. The Mortgage Bankers Association (MBA) will release its weekly mortgage application survey on Wednesday. The Federal Reserve will also release the minutes from its March Federal Open Market Committee (FOMC) meeting on Wednesday. In employment news, the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) will come out on Friday.

Adding energy efficient appliances, fixtures, and other systems to your home can not only cut utility costs, but also increase the value of the home. With a continuously emerging energy efficient marketplace, plus the advent of smart home technology, some homeowners may be wondering where to start and which energy efficient upgrades will yield the best results.

This week, Freddie Mac announced updates to its loan-to-value (LTV) ratio guidelines for purchases and “no-cash-out” refinance mortgages used for second homes, any 1-unit residential property owned by the borrower but only occupied for a portion of the year, and 2-unit primary residences, such as duplexes.

Mortgage rates have trended slightly downward in recent weeks, reacting to uncertainty surrounding global trade and plunging technology sector stocks. This week, the US construction spending report comes out on Monday and the weekly mortgage application survey comes out on Wednesday. The ADP employment report is also scheduled for release on Wednesday.

Mortgage rates trended slightly downward this week, following strong economic gains. Home prices continue to appreciate, due to low housing inventory. Both new purchase and refinance mortgage application submissions increased. The pending home sales index turned around after last month’s decline.

Mortgage rates continued to trend upward last week, but buyer demand remains strong. Homes are selling increasingly faster, according to the National Association of Realtors (NAR) in last week’s existing home sales report. This week, the S&P CoreLogic Case-Shiller home price index will review home price appreciation trends, and the pending home sales index will show what to expect in terms of sales in the coming months. Additionally, the Mortgage Bankers Association (MBA) weekly mortgage application survey comes out on Wednesday.

Average mortgage rates did not move much in either direction this week. In a highly anticipated move, the Federal Open Market Committee (FOMC) voted to raise the benchmark interest rate .25 bps. Existing home sales rebounded, but new home sales fell slightly.

Lenders use a home buyer’s credit score to determine credit risk and evaluate their ability to repay a loan. A good FICO credit score is instrumental to securing a mortgage loan and, in some cases, getting a better interest rate. Most mortgage professionals suggest potential home buyers start credit repair at least six months to a year before shopping for a home. Remember, each hard credit pull, like the kind needed for a new line of credit like a mortgage, will impact the credit score! A little credit repair now goes a long way when it comes to a high-dollar purchase later.

Mortgage rates trended slightly downward last week, following a few weeks of steady increases. New tariffs on construction materials have caused political discord and could stall home building activity. The Federal Open Market Committee (FOMC) will meet Tuesday and Wednesday for their semi-annual monetary policy meeting. A press conference with Federal Reserve Chair Jerome Powell is scheduled for Wednesday. February’s existing home sales and new home sales reports are also scheduled for release.

Mortgage rates trended slightly downward this week after a multi-week climb. Some market analysts attribute the rate drop to this week’s tariff proposals and other political news. Retail sales scaled slightly back in February, as is expected following the holiday season. The housing market index dropped from last month’s 19-year high. Housing starts and building permits slipped.

Shopping for a home is an exciting experience. When a home buyer finds a home they love, it can be easy to get attached or even emotional about the home. However, what seems like a dream house can turn into a money pit without a thorough inspection. The US Department of Housing and Urban Development (HUD) estimates a typical home inspection can cost anywhere between $300 to $500, depending on the region and condition of the home. Before spending money on one or more home inspections, watch out for these simple clues that can be signs of costly damage beneath the surface.

Mortgage rates did not fluctuate greatly last week, leveling off after an upward trend. Refinance mortgage applications picked up, but new purchase applications pulled back slightly. This week, the National Association of Home Builders (NAHB) will release its housing market sentiment index and housing starts and building permits will come out on Friday.

Mortgage rates are not moving much this week, leveling out after inching slightly upward. New purchase mortgage application submissions declined, but refinance application submissions improved. The ADP employment report strengthened again, as the job market nears full employment. Consumer credit expanded in January, but at a slower pace than in December, as expected.

As expected, mortgage rates continued to trend slightly upward this week. Unseasonably cold winter weather stalled new home sales again this month. The S&P CoreLogic Case-Shiller home price index appreciated month-over-month and year-over-year. The pending home sales index declined.

Mortgage rates continued to trend upward last week. Heading into the end of February, this week brings some end-of-month reports including, new home sales, pending home sales, and the Case-Shiller Home Price Index.

Mortgage rates continue to trend upward but are averaging less than half of a percentage point higher than they were this time last year. The weekly mortgage application survey showed a week-over-week decline, but a year-over-year increase. Existing home sales scaled back, though not as drastically as they did in December. The Federal Open Market Committee (FOMC) released the minutes from its January meeting, and the market expects the first rate hike of the year to take place in March.

New to the mortgage process? You are probably seeing a lot of new acronyms you may not be familiar with. The monthly mortgage payment, for example, is comprised of “PITI” or Principal, Interest, Taxes, and Insurance. When budgeting for the cost of a monthly mortgage payment, home buyers should consider the cost of each of these components.

Most banks and markets are closed today in observance of Presidents' Day. This will be a short week for economic data, though two important housing reports will be released. The weekly mortgage application survey and existing home sales are scheduled to come out on Wednesday. Additionally, the Federal Open Market Committee (FOMC) will release the minutes from its January meeting.

Saving for a down payment is one of the most commonly reported obstacles to homeownership and continues to slow down the home buying process for creditworthy borrowers. As rents and home prices continue to rise, almost every demographic, especially first-time home buyers, are experiencing difficulties in saving for a down payment.

Mortgage rates continued to rise this week. Next week, the Federal Open Market Committee (FOMC) will release the minutes from its January meeting, the last meeting with Janet Yellen as Federal Reserve Chair. Retail sales slumped slightly in January, after a gainful holiday season. The National Association of Home Builders’ (NAHB) housing market index was unchanged and housing starts and building permits surged.

Mortgage rates did not move much last week, and the likelihood of a March rate hike has dropped following some stock market volatility. This week’s important housing reports scheduled for release are the home builders’ sentiment index and housing starts and building permits. Though home builder confidence declined last month, home builders were setting record confidence levels most of the past year. Housing starts and building permits were hurt last December by frigid winter weather. Other market-moving reports include retail sales and retail sales excluding auto; consumer spending is a big driver of economic momentum.

Mortgage rates did not move significantly either way this week. Most market volatility took place in the Stock Market sphere, when after months of record-setting highs the Dow Jones Industrial Average dropped the most points ever in a single day, and then proceeded to rebound the next day. Job openings declined slightly, and the unemployment level remains historically low. Refinance mortgage application submissions increased but new purchase applications were unchanged week-over-week. Consumer credit expanded less significantly than it did the previous month.

Mortgage rates did not move much last week, after the Federal Open Market Committee voted to leave interest rates unchanged. This week, there will be no significant housing reports other than the Mortgage Bankers Association (MBA) weekly mortgage application survey. The Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) comes out on Tuesday and consumer credit comes out on Wednesday. Though they are not housing specific reports, labor market and consumer spending activity spur economic momentum and impact housing.

Mortgage rates did not move much in either direction this week, after the previous week’s upward trend. The Federal Open Market Committee (FOMC) met Tuesday and Wednesday, and as expected voted unanimously against a rate hike. In housing news, home values continue to appreciate, the pending home sales index increased for the third month in a row, and US construction spending was strong.

Mortgage rates are continuing their upward trend. The Federal Open Market Committee will meet Tuesday and Wednesday but will not hold a press conference following the meeting. This will be the last meeting with Janet Yellen as Federal Reserve Chair. Jerome Powell was confirmed as the new Federal Reserve Chair last week. The S&P CoreLogic Case-Shiller home price index comes out on Tuesday, pending home sales comes out on Wednesday, and US construction spending will come out on Thursday.

Mortgage rates continued their upward trend this week. Based on this week’s housing reports, activity slowed down in December. Cold winter weather across the country limited construction and stalled sales. The Federal Housing Finance Agency (FHFA) house price index appreciated, and existing home sales and new home sales each declined.

Mortgage rates trended upward last week, reacting to the end-of-year rate hike. This week, the Federal Housing Finance Agency (FHFA) releases its house price index. The existing home sales report comes out on Wednesday and the new home sales report comes out Thursday.

Mortgage rates trended upward this week, reaching the highest average level in the past 10 months. New purchase and refinance mortgage application submissions each increased, home builder confidence scaled back, and housing starts and building permits felt the winter freeze.

Markets are closed today in observance of Martin Luther King Jr. Day. Mortgage rates are trending upward, heading into 2018. This week’s important housing reports include the Mortgage Bankers Association’s (MBA) weekly mortgage application survey, the National Association of Home Builders’ (NAHB) housing market index, and housing starts and building permits.

Mortgage rates trended upward this week and both new purchase and refinance mortgage application submissions rebounded after a few slowed weeks. Consumer credit expanded for the third straight month. Job openings dropped off, as the market nears full employment. Retail sales improved.

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Last week, mortgage rates started to trend slightly upward. This week, there are no significant housing reports scheduled, other than the weekly mortgage application survey. Market-moving reports include consumer credit, the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS), and retail sales.

This week was another short week with markets closed on Monday in observance of New Year’s Day. Mortgage rates did not move much this week, starting their upward trend following the end of the year rate hike. The Mortgage Bankers Association (MBA) resumed the release of the mortgage application survey. US construction spending improved and the ADP employment report strengthened.

Happy New Year! Markets will be closed today in observance of New Year’s Day. This week’s important reports include US construction spending, the ADP employment report, and the weekly mortgage application survey.

Markets were closed on Monday, in observance of the Christmas holiday. This week, the Mortgage Bankers Association did not release the mortgage application survey, and release of the survey will resume next Wednesday. The Case-Shiller home price index continued to appreciate and pending home sales are up slightly.

Markets will be closed today, in observance of the Christmas holiday. There are some noteworthy housing reports scheduled for release, including the Case-Shiller home price index, the weekly mortgage application survey, and pending home sales.

Mortgage rates started to trend upward this week, following last week’s federal interest rate hike. Tax reform took center stage, dominating most of the news circuit as the House of Representatives and the Senate hammered out the details of their plans and reached a compromise. This week, home builder confidence hit an 18-year high. Housing starts improved, but building permits declined slightly. Existing home sales hit an 11-year high.

The Federal Open Market Committee voted to raise the benchmark interest rate last week, and mortgage rates have not yet reacted. This year’s mortgage rate activity has been gradual, with rates continuing to hover historic lows. This week, the National Association of Home Builders (NAHB) will release their housing market sentiment index on Monday, housing starts and building permits come out on Tuesday, and the existing home sales report comes out Wednesday.

Mortgage rates trended slightly downward this week, though there was no significant movement to report. Job openings were down slightly from September to October. As expected, the Federal Open Market Committee (FOMC) raised the benchmark interest rate for the third time this year, and Fed Chair Janet Yellen gave the final press conference of her term. Retail sales surged ahead of the holiday season.

One of the most persistent problems in the housing industry is lack of availability. At the recent congressional hearing with US House Committee on Financial Services Subcommittee on Financial Institutions and Consumer Credit, Representative Dennis Heck stated that although 2017 had been the strongest year for construction in over a decade, it was still only at the level of 1994. Over a decade after the housing boom, the homebuilding industry is a third smaller than it was in 2005, while new household formation continues to outpace supply. Supply constrictions are driving home prices up, and pricing more and more potential home buyers out of the market.

Since the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), mortgage lenders and other financial institutions have faced increased precautionary regulation. Almost a decade after the Financial Crisis, and many of these regulations remain intact without any adjustment or review, despite economic recovery. Last week, CMG Financial President and CEO Christopher M. George testified on behalf of the Mortgage Bankers Association before the US House Committee on Financial Services Subcommittee on Financial Institutions and Consumer Credit in support of the Mortgage Fairness Act of 2017 and the Comprehensive Regulatory Review Act of 2017.

Last week, the Senate passed their version of the Republican tax reform bill. The House and Senate will now go to a conference committee to discuss the differences between the bills and edit one version to send to President Trump. The Federal Open Market Committee (FOMC) will meet on Tuesday and Wednesday, and Fed Chair Janet Yellen will hold a press conference on Wednesday afternoon. On Monday, the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) comes out and on Thursday the retail sales report will be released.

Mortgage rates trended slightly downward this week ahead of next week’s Federal Open Market Committee (FOMC) meeting. On Saturday, the Senate approved their version of the tax reform bill. Both new purchase and refinance mortgage applications increased. The ADP employment report increased, but slightly less than last month. Consumer credit expanded to one of the highest levels all year.

Mortgage rates trended slightly upward last week, ahead of December’s Federal Open Market Committee (FOMC) meeting. With a low unemployment rate and steady inflation, the FOMC is expected to raise rates once more this year. The only housing report this week is the Mortgage Bankers Association (MBA) weekly mortgage application survey. The ADP employment report will come out Wednesday and consumer credit is scheduled for release on Thursday.

Mortgage rates trended slightly upward this week. Several strong housing reports were released. New home sales surged to a 10-year high in October, as post-hurricane recovery appears to be progressing. The Case-Shiller home price index continued to appreciate. Pending home sales were also strong, up 3.5% month-over-month.

Last week was a short week, with markets closed on Thursday in observance of Thanksgiving. This week, some of the final numbers from November are scheduled for release. Noteworthy housing reports include, the new home sales report on Monday, the Case-Shiller home price index on Tuesday, and the pending home sales index on Wednesday.

Mortgage rates did not move significantly during this short week. Markets were closed on Thursday in observance of Thanksgiving, and the New York Stock Exchange is closing early today. Existing home sales improved month-over-month, but decreased year-over-year. New purchase mortgage applications increased and refinance mortgage applications declined. The consumer sentiment index eased slightly.

Mortgage rates trended slightly downward last week. This week will be a short week with markets closed on Thursday in observance of Thanksgiving, and the New York Stock Exchange closing early on Friday. In housing news, existing home sales comes out on Tuesday and the weekly mortgage application survey comes out Wednesday. The consumer sentiment index is also scheduled for release on Wednesday.

Mortgage rates trended slightly upward last week. The new GOP House tax proposal saw a few iterations as well as the release of the GOP Senate tax proposal. This week, the retail sales report comes out on Wednesday, the National Association of Home Builders’ releases their housing market index on Thursday, and housing starts and building permits are scheduled for release on Friday.

Housing activity typically slows down during the fall and winter seasons, with predictions for next year starting to come in. The Mortgage Bankers Association (MBA) forecast that new purchase origination volume will increase next year and refinance origination volume will start to decrease. Coming up this week are job openings, consumer credit, and the weekly mortgage application survey.

Mortgage rates did not move much either way this week. The Federal Open Market Committee (FOMC) met on Tuesday and Wednesday and, as expected, voted to leave interest rates unchanged. On Thursday, President Trump announced Jerome Powell would be the next Chairman of the Federal Reserve, after current Fed Chair Janet Yellen’s term expires in February 2018. The Case-Shiller home price index appreciated and US construction spending rebounded slightly.

Mortgage rates trended upward last week, ahead of this week’s Federal Open Market Committee (FOMC) meeting. The FOMC meets Tuesday and Wednesday to discuss monetary policy. The FOMC was in the news last week, as the finance world speculated on what move President Trump will make when Fed Chair Janet Yellen’s term expires in February 2018. The S&P CoreLogic Case-Shiller home price index comes out on Tuesday and US construction spending comes out Wednesday.

Mortgage rates are trending upward again this week. New home sales hit record highs, climbing to the highest level in a decade. Pending home sales were unchanged from August to September. Third quarter gross domestic product (GDP) exceeded expectations and grew at an annual pace of 3%.

Mortgage rates are trending upward, heading into the seasonal winter slowdown. This week, the new home sales reports comes out Wednesday and pending home sales index comes out Thursday. The first estimate for third quarter’s Gross Domestic Product (GDP) will be released Friday morning.

Mortgage rates trended slightly downward last week. This week, the National Association of Home Builders (NAHB) will release its housing market index on Tuesday. The housing starts and building permits reports will come out on Wednesday. Existing home sales is scheduled for release on Friday.

Mortgage rates trended slightly downward this week, though there are no significant changes to report. The Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) declined slightly as the unemployment rate dropped to a historical low. The Mortgage Bankers Association (MBA) reported both new purchase and refinance applications declined last week. The Commerce Department reported that retail sales are up.

Markets will be closed today in observance of Columbus today. This week, the Federal Open Market Committee (FOMC) will release the minutes from its September meeting. The Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) comes out Wednesday. The Mortgage Bankers Association (MBA) will also release its weekly survey of mortgage applications on Wednesday. The retail sales report comes out Friday.

Mortgage rates held steady this week. Construction spending improved after the previous month’s declines. New purchase applications increased, but refinance applications declined. The ADP employment report was not hurt greatly by Hurricanes Harvey and Irma, but still trended downward.

There was no significant mortgage movement last week. This week, US construction spending will be released on Tuesday, and on Wednesday the Mortgage Bankers Association (MBA) will release its weekly mortgage application survey and the ADP employment report comes out.

Mortgage rates trended slightly upward this week, as housing and construction activity begins to normalize following the destruction of Hurricanes Harvey and Irma. Limited housing inventory continues to impact the housing market. The Case-Shiller home price index increased again, and new home sales and pending home sales each declined.

Electric bills tend to rise during the summer months because of hot weather and air conditioners working overtime. Energy efficient appliances and other home renovations can reduce electricity consumption, but may be costly to install. Before splurging on energy efficient upgrades, make a few changes to daily behaviors.

Last week, the Federal Open Market Committee met for its semiannual economic policy meeting and voted to leave the benchmark interest rate unchanged. This week, the Case-Shiller home price index, new home sales, and the pending home sales index are all scheduled for release.

The Federal Open Market Committee (FOMC) voted to leave rates unchanged at its September meeting, last Tuesday and Wednesday. Housing activity has slowed across the board, with almost every report showing declines. The housing market index dropped, housing starts and existing home sales declined, but building permits increased.

This week will be a full week for housing with numerous important housing reports scheduled. On Monday, the National Association of Home Builders (NAHB) will release the housing market index. On Tuesday, housing starts and building permits comes out. On Wednesday, the National Association of Realtors (NAR) will release the existing home sales report. The Federal Open Market Committee (FOMC) is scheduled to meet Tuesday and Wednesday and a press conference with Fed Chair Janet Yellen will follow on Wednesday.

Mortgage rates are trending downward and mortgage application submissions are up. Homeowners and home buyers are looking to lock rates ahead of the Federal Open Market Committee (FOMC) policy meeting next week. This week, the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) comes out on Tuesday, the Mortgage Bankers Association (MBA) mortgage application survey comes out on Wednesday, and the Consumer Price Index comes out on Thursday.

Mortgage rates dropped slightly this week. Hurricane Harvey recovery is underway in Texas and the government agreed to a short-term debt ceiling extension, in part to help fund the relief effort. Additional hurricanes are forming in the Atlantic and the Gulf of Mexico. Mortgage application submission increased amidst rising rates. The Federal Reserve released its Beige Book on Wednesday.

Earlier this week, Houston’s mayor announced that many Houston-area businesses are starting to reopen. With floodwaters receding, Houston residents are returning home also. The Small Business Administration (SBA) is actively coordinating with other federal agencies like the Federal Emergency Management Agency (FEMA), the Department of Homeland Security, and the Department of Housing and Urban Development (HUD) to distribute loans to aid hurricane victims. The agency announced it would distribute $3.3 billion in disaster loan funds to help uninsured residents and business owners rebuild.

Last week, Hurricane Harvey caused major damage across the Gulf Coast. Southeastern Texas and the Houston metro area suffered heavy flooding and parts of the region are still underwater. American Red Cross President Brad Kieserman expects cleanup to last through December. Markets are closed today in observance of Labor Day.

This week, Hurricane Harvey devastated much of Texas’s Gulf Coast and other parts of the Southeastern United States. Mortgage rates did not shift drastically and the Federal Reserve is reconsidering further rate hikes this year, as the greater Houston area begins the process of rebuilding. Tightened housing inventory has led to an increase in home prices and a decrease in pending home sales. Construction spending decreased overall, but the residential housing segment improved.

Last weekend, Texans faced the worst hurricane in recorded history when Hurricane Harvey ravaged the coast. Weather analysts are reporting over 11 trillion gallons of rain fell across over Southeastern Texas. Thirty-three counties are under a disaster declaration, and 30,000 people are expected to be seeking temporary shelter due to flood damage.

Our thoughts and prayers are with the victims of Hurricane Harvey throughout the Texas area. If you or someone you know has had a home or business impacted by Hurricane Harvey, it is imperative that you file an insurance claim before Friday.

Mortgage rates did not move much last week, and continue to hover year-long lows. This week, the S&P CoreLogic Case-Shiller home price index comes out on Tuesday. The pending home sales index comes out Thursday and US construction spending will be released Friday.

Adding greenery to cities and neighborhoods is more than just an aesthetic choice. According to researchers at the University of British Columbia, adding trees to neighborhoods actually improves the weather by reducing the impact of wind. Researchers designed a computer model and tested the impact of trees on a Vancouver neighborhood. Based on the data, trees could save the neighborhood modeled up to 15% on energy bills in the summer and 10% on energy bills in the winter.

Mortgage rates dropped last week to a post-election low. This week will be a heavy housing week with reports on the Federal Housing Finance Association’s (FHFA) house price index, existing home sales, and new home sales.

Mortgage rates dropped to a new post-election low, but did not translate into increased housing market activity. Housing starts and building permits each dropped, but the housing market index improved. Retail sales exceeded expectations.

Faced with budget restrictions, Greensburg, IN residents found a new way to make their city beautiful. The residents wanted more art and streetscape items like benches to improve their community’s aesthetic. According to Wendy Blake, executive director of Main Street Greensburg, “if there are things that we want, we might have to make them happen on our own.”

Mortgage rates are trending slightly downward. On Tuesday, the National Association of Home Builders (NAHB) will release its August housing market index and the July retail sales report also comes out. On Wednesday, July’s housing starts and building permits data will be released.

As a leading real estate industry trade association, the National Association of REALTORS® (NAR) is at the forefront of sustainable real estate practices. Last year, the NAR launched the official NAR Sustainability Program to spearhead sustainability research and collaborate with other organizations like the National Association of Home Builders (NAHB), the Urban Land Institute (ULI) and the Council of MLS (CMLS).

Mortgage rates slid slightly last week, as expectations for additional 2017 rate hikes have dropped. This week, there are no significant housing reports scheduled other than the weekly mortgage application survey on Wednesday. On Monday, consumer credit comes out and on Tuesday the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) will be released.

Mortgage rates edged downward this week. The pending home sales index turned around this month, but total construction spending dropped slightly. The ADP employment report was positive but below expectations.

As hype builds around self-driving cars, one UK engineering firm took the concept of autonomous construction a step further with self-building houses. The uBox by Ten Fold Engineering assembles itself automatically without the use of tools or machinery. Once unfolded, the homes measure up to 645 square feet. When folded, the homes are easily stackable and shippable.

Mortgage rates did not move much last week. There were mixed housing numbers with a decline in existing home sales and an increase in new home sales. This week, the pending home sales index comes out on Monday, US construction spending comes out Tuesday, and the ADP employment report comes out on Wednesday.

Mortgage rates ticked back upwards this week, though there are no significant changes to report. Existing home sales declined after last month’s positive numbers. The S&P CoreLogic Case-Shiller home price index continues to improve. New home sales increased, only slightly.

For most first-time home buyers, the biggest challenge when buying a home is saving for the down payment. However, the 20% down payment is not as rigid of a requirement as it has been in the past. Low down payment programs, especially those targeting first-time home buyers, are growing in popularity.

Mortgage rates trended downward last week. There are numerous housing reports scheduled for this week, including last month’s existing home sales and new home sales reports, and May’s Case-Shiller home price index. Last week’s reports showed positive gains in mortgage applications filed, housing starts, and building permits issues. This week’s reports will reflect whether or not that momentum persists.

Mortgage rates started to trend downward this week, following Federal Reserve Chair Janet Yellen’s dovish remarks at her semiannual testimony last week. The housing market index dropped slightly, but remains positive. Mortgage applications turned around after last week’s Independence Day slow down. Housing starts and building permits also rebounded.

A little change goes a long way in Georgetown, Texas, located about thirty miles north of the state capital, Austin. Georgetown is one of the first cities in the United States to be completely powered by renewable energy. To date, Texas produces more wind energy than the next three leading states combined.

Mortgage rates were trending upward last week, then edged downward after Federal Reserve Chair Janet Yellen’s semiannual testimony before the Senate Banking Committee. This week, the National Association of Home Builders (NAHB) releases its housing market index on Tuesday. Housing starts and building permits come out Wednesday, along with the weekly mortgage application survey.

This week, mortgage rates started to fall after Federal Reserve Chair Janet Yellen’s remarks at her semiannual testimony before the Senate Banking Committee. Expectations of a September or December rate hike have dropped. Consumer credit expanded at the fastest pace in seven months, there were fewer job openings than expected and retail sales declined.

Smishing scams are similar to email phishing scams, but they are delivered through SMS text messages. Unsuspecting recipients tend to trust text messages more than emails. However, responding to a smishing text that looks like it is from a bank, store, or other official organization can lead to financial fraud.

Mortgage rates started to increase last week. This week, there are no monthly housing reports scheduled, but several other important reports on consumer activity and job openings. On Monday, the consumer credit report comes out, on Tuesday, job openings will be released, and retail sales comes out on Friday.

Mortgage rates started to trend upward after a few weeks of holding steady. This month, US construction spending remained unchanged and private-sector jobs grew less than anticipated. New purchase mortgage applications rebounded after last week’s declines, and refinance applications decreased slightly.

Vacation homes and investment properties can be used as a “home away from home” and also potentially become a source of rental income when occupied. The cost of the vacation home largely depends on the location.

The FICO credit score ranks consumers’ credit-worthiness on a scale of 300 (poor credit) to 850 (excellent credit). The FICO score is the most widely accepted credit score used by lenders and other financial institutions. The average FICO score hit a record-high, reaching 700 for the first since tracking began 12 years ago.

Mortgage rates trended slightly higher last week, but there are no significant changes to report. This week, markets will be closed tomorrow in observance of Independence Day. In housing news, US construction spending comes out on Monday and the weekly mortgage application survey comes out Wednesday. It will also be a big week for job news with the ADP employment report scheduled for release on Thursday and several other employment reports on Friday.

Mortgage rates started to trend upward this week, though there are no significant changes to report. Home prices are continuing their steady trend of appreciation and contracts signed declined slightly as limited housing inventory continues to strain housing activity. The third revision for first quarter’s Gross Domestic Product (GDP) came out Thursday, with a positive expansion.

Did you know, in 2016 over 32,000 home improvement-related scams were reported to the Better Business Bureau (BBB)? The average cost of these scams was $1400. Be prepared to avoid falling victim to dishonest contractors, repairmen, or other service professionals.

Mortgage rates stayed low last week, trending slightly downward according to Mortgage News Daily. Housing market activity picked up with gains in both existing home sales and new home sales. This week, the S&P CoreLogic Case-Shiller home price index comes out Tuesday, the pending home sales index comes out Wednesday, and on Thursday we get the third estimate for first-quarter Gross Domestic Product (GDP).

Mortgage rates stayed low this week, trending downward according to Mortgage News Daily, despite the June rate hike. The final numbers from the spring selling season were mostly positive, with existing home sales and new home sales rebounding and the Federal Housing Finance Agency (FHFA) house price index also improving.

The High Line is a public park that spans along an elevated former freight rail line on Manhattan’s West Side. The urban oasis stretches from Gansevoort Street in the Meatpacking District to West 34th Street, between 10th and 12th Avenues and is a popular destination for tourists and local New Yorkers.

Last week, the Federal Open Market Committee (FOMC) voted to raise the benchmark interest rate to a level of 1.00% - 1.25%, the second rate hike of 2017. This week, the final numbers from the spring selling season will be available including existing home sales, new home sales, and the Federal Housing Finance Agency (FHFA) house price index.

As expected, the Federal Open Market Committee (FOMC) voted to raise the benchmark interest rate. Mortgage rates did not change drastically following the announcement, increasing slightly according to some sources. The National Association of Home Builders’ (NAHB) housing market index declined slightly. Housing starts and building permits declined.

Considering renting a beach-house this summer? Summer is the prime season for rental homeowners to make some extra income, especially in vacation hotspots like Florida and California. According to Airbnb, reservations in Destin, FL are up 232% from this time last year. Before venturing into the short-term rental market, consider these five common risks hosts face.

Mortgage rates trended downward last week, ahead of this week’s Federal Reserve policy meeting. The Federal Open Market Committee (FOMC) is scheduled to meet Tuesday and Wednesday and hold a press conference Wednesday afternoon. The National Association of Home Builders (NAHB) will release the home builders’ sentiment index on Thursday and housing starts and building permits come out on Friday.

Mortgage rates trended downward this week. There were no major housing reports scheduled, aside from the weekly mortgage application survey. Job openings surged and consumer credit growth was sluggish. The labor market and consumer spending patterns influence the housing market. When consumers are gainfully employed and confident in the labor market, they are more inclined to spend and borrow.

One of the most common misconceptions home buyers face is the iron clad 20% down payment. There are many flexible mortgage financing programs available that do not require a 20% down payment. Bank of America CEO Brian Moynihan offered his thoughts on the 20% down payment in an interview with CNBC.

Scotsman Guide, the leading resource for mortgage originators, named CMG Financial one of the top mortgage lenders of 2016. CMG Financial was ranked among entries from hundreds of mortgage companies across the country, in three categories: Top Overall Volume (15), Top Wholesale Volume (9), and Top Correspondent Volume (7).

Following last week’s withdrawal from the Paris Climate Accord, there have been many discussions on energy efficiency and housing sustainability. Environmental preservation and protection efforts are not limited to international decrees, and can start right at home. Here are three ways homeowners can reduce carbon emissions and also save some money.

Mortgage rates did not move much last week, hovering the year-long low. This week will be light on housing news, aside from the weekly mortgage application survey. Other significant economic reports include the Job Openings and Labor Turnover Survey (JOLTS) and the consumer credit report.

Mortgage rates did not move significantly this week and are holding near year-long lows. The Case-Shiller house price index appreciated to the highest level in over two years. Pending home sales and construction spending each declined.

Last week, Fannie Mae announced a new program designed to give price breaks to developers who provide healthier living options for tenants in multifamily rental properties. Multifamily housing faces unique challenges in sustainable design. The Healthy Housing Rewards program’s goal is to encourage innovation to improve housing conditions and communities.

This month, CMG Financial was named one of the 2017 Best Places to Work in the Bay Area. CMG attributes this honor to its strong culture of success. CMG’s culture depends on all team members working together to deliver the right loans, for the right reasons, in a way that exceeds all expectations.

Markets are closed today in observance of Memorial Day. This week’s scheduled reports will include the final numbers of May and the first numbers of June. The Case-Shiller home price index comes out Tuesday, pending home sales index comes out Wednesday, and construction spending comes out Thursday.

Advancements in engineering and energy-saving incentives has prompted companies like Tesla and Solar City to improve the upon the concept of solar roof panels. Earlier this month, Elon Musk announced the launch of Tesla’s solar roof tile system for consumer purchase.

Mortgage rates trended downward last week, amidst some political turmoil in Washington. This week, there will be some significant reports on the first numbers from second quarter including new home sales and existing home sales. The Federal Housing Finance Agency (FHFA) will release its house price index, also.

Mortgage rates are down from last week, hovering year-long lows. The home builders’ sentiment index posted positive numbers in May after a decline in April. Housing starts and building permits each dropped, and both new purchase and refinance mortgage applications decreased.

A new survey reports that the number of credit and debit card fraud alerts received by cardholders has spiked from 2015 to 2016. This increase is not necessarily a result of more fraudulent activity, rather more diligent fraud reporting.

With millennials entering the housing market slowly, luxury homes are not on their radar. The Wall Street Journal reported home builders are switching gears and building smaller. The newest generation is shopping small, so home builders have put their focus on starter homes rather than luxury homes.

Mortgage rates trended upward last week following continued uncertainty surrounding tax and healthcare reform. This week, the National Association of Home Builders (NAHB) will release their monthly housing market index, housing starts and building permits come out Tuesday, and the weekly mortgage applications survey comes out Wednesday.

Mortgage rates trended upward this week, but remain near year-long lows. Both new purchase and refinance applications increased, after last week’s lack of rate movement. Job openings remained unchanged from February to March. Retail sales improved, but were less than expected.

Since their inception, 3D printers have been used to recreate everything from household objects to prosthetic limbs. Recently, researchers from the Massachusetts Institute of Technology created a large enough 3D printer to build the basic structure of a building in less than fourteen hours.

Millennials are delaying buying a home for numerous reasons including student loan debt, home price appreciation, and housing availability. Until new home construction offsets heightened demand, many prospective homeowners are facing inventory constraints. According to the 2016 Houzz and Home Survey, millennials and first-time homebuyers are spending more on renovations after home purchase.

Mortgage rates decreased slightly, following the Federal Open Market Committee’s decision to not raise the benchmark interest rate. US construction spending showed gains in residential construction, but not much elsewhere and the ADP employment report posted modest gains.

Property Assessed Clean Energy (PACE) loans are a type of financing homeowners use to fund the installation of solar panels or other home efficiency improvements, like air conditioning and window insulation. The loan is a lien paid back through property tax payments, requires no underwriting, and often has high fees and interest rates. Currently, these loans are not subject to federal consumer protection requirements, even though they have all the attributes of a mortgage product.

Mortgage rates trended upward last week, after hitting year-long lows earlier in the month. This week, the Federal Open Market Committee (FOMC) will meet for the third time this year. There is not a press conference scheduled after this meeting, but there will be an official announcement released on Wednesday at 2 PM. Also scheduled for release this week, are the US construction spending report and the ADP employment report.

In an effort to better understand the state of American public housing, US Department of Housing and Urban Development (HUD) Secretary Ben Carson is traveling the nation to get an up close look at local communities.

Mortgage rates did not move significantly last week, after hitting a year-long low earlier in the month. There will be a full schedule of housing reports this week including the S&P CoreLogic Case-Shiller home price index, new home sales, and pending home sales.

Mortgage rates did not fluctuate much this week, hovering the year-long lows they hit last week. The housing market index gave a positive reading. Housing starts declined, but building permits ticked up. Existing home sales surged to the highest level since 2007.

Scammers target homebuyers or sellers because of the amount of money at stake during the real estate transaction. Using trusted real estate professionals, keeping communication open, and staying aware throughout the process can help reduce the risk of fraud.

Last week, Freddie Mac reported mortgage rates dipped to new 2017 lows. The lower rates bode well for the spring home buying season, typically the busiest of the year. This week, the National Association of Home Builders (NAHB) will release the housing market index on Monday. On Tuesday, housing starts and building permits come out and on Wednesday there will be the existing home sales report.

This week, Freddie Mac reported the 30-year fixed-rate average interest rate dropped to the lowest level of the year so far, driven down by the political climate. Job openings increased, but hiring declined. The consumer sentiment index continued to surge and retail sales dropped.

The Office of Fair Housing and Equal Opportunity (FHEO) was established on April 11, 1968, when President Johnson signed the Fair Housing Act into law. This act prohibits the discrimination concerning the sale, rental, and financing of housing based on the race, religion, national origin, sex, handicap, and family status of the buyer or renter.

Lenders use credit scores to determine a borrower’s ability to repay debt like mortgages and vehicle loans. Credit scores impact lending terms, mortgage rates, and financing eligibility. Typically, scores above 700 are considered good. TransUnion reports only about 20% of Americans have a score above 780 and even fewer rank above 800. How can consumers improve their credit score and reach these elite ranges?

Mortgage rates continued to hold steady last week, trending slightly upward according to Mortgage News Daily. This week will be light on housing news and heavy on jobs reports. Jobs reports, like this week’s ADP employment report, are still relevant to the housing market because labor market growth triggers spending and borrowing by gainfully employed consumers.

Mortgage rates did not move much this week, trending slightly upward from last week. The S&P CoreLogic Case-Shiller home price index surged at a record pace, pending home sales increased, and consumer spending improved also.

Points, also known as discount points or origination points, are fees paid to the lender to secure a reduced interest rate for the life of the mortgage loan. Points are an optional fee that are beneficial to some buyers, especially those who will be living in the home long-term.

We truly believe home is where the heart is. For those suffering from illnesses, having a place to call home can be just as healing as the hospital. Unfortunately, unexpected medical expenses have the potential to cause major financial damage to families. The MBA Opens Doors Foundation is here to help.

Mortgage rates trended downward last week. When the Federal Reserve raises the short-term interest rate, long-term rates like mortgage rates may not react immediately. This week, there will be the S&P Case-Shiller home price index, the pending home sales report, and the consumer spending, personal income, and core inflation report.

Mortgage rates continued to trend downward this week. There was a mixed bag of housing news. The Federal Housing Finance Agency (FHFA) house price index was unchanged, existing home sales dropped, and new home sales increased.

From flooding in California, to tornadoes in the Midwest, to last week’s Northeastern snow storm, 2017 has already seen its fair share of inclement weather. Each season and region is susceptible to its own natural disaster and homeowners’ insurance is not one size fits all.

Last week, the Federal Open Market Committee (FOMC) voted to raise the benchmark interest rate. In response, mortgage rates trended downward. Long-term interest rates will move more slowly than short-term rates in reacting to movements by the Fed. This week, there will be several important housing reports including the Federal Housing Finance Agency’s house price index, existing home sales, and new home sales.

House fires are devastating tragedies that may lead to substantive loss of property and even injury or fatality. The National Fire Protection Association attributes electrical failure or malfunction as the cause of over 47,000 fires annually.

The Federal Open Market Committee (FOMC) will meet this Tuesday and Wednesday and vote on whether or not to raise the benchmark interest rate. Last week, the European Central Bank voted to leave interest rates unchanged. In the United States, Mortgage rates were on the rise last week as the market priced in a federal interest rate hike.

Mortgage rates were on the rise this week, ahead of next week’s Federal Open Market Committee (FOMC) meeting. After this week’s positive job numbers from the ADP employment report, many economists are predicting a rate hike will take place next week.

Tax season is an opportune time for hackers to gain access to an abundance of secure information. Consumers are transmitting sensitive data and many are anticipating refund payments. The IRS estimated that it halted more than $4 billion in fraudulent refunds, on 787,000 tax returns during the first nine months of 2016.

Mortgage rates did not move much last week, trending upward according to some surveys. There are no major housing reports scheduled this week, except for the weekly Mortgage Bankers Association (MBA) purchase application survey. Other notable economic reports include consumer credit and the ADP employment report.

There was not much movement from mortgage rates this week, trending upwards according to some sources. The S&P CoreLogic Case-Shiller home price index improved, but the pending home sales index and construction spending declined. On Wednesday, the Federal Reserve released its Beige Book ahead of the Federal Open Market Committee (FOMC) Meeting later this month.

Furniture retailer Ikea, popular for its do-it-yourself assembly, released a new structure through its innovation lab Space10 called Growroom. This spherical, wooden planter is designed to facilitate gardening in dense urban areas where many residents do not have backyards.

Mortgage rates did not change significantly last week, and trended downward according to some sources. This week includes the end of February and the beginning of March, bringing some important monthly housing reports. The National Association of Realtors (NAR) pending home sales index and US construction spending will forecast what to expect for housing in the coming months.

Mortgage rates trended downward this week. New home sales and existing home sales each showed signs of strength and the Federal Housing Finance Agency (FHFA) house price index increased. New Treasury Secretary Steve Mnuchin addressed Fannie Mae and Freddie Mac reform is on the agenda but stated that it was not the number one priority.

One of the first steps in securing a home loan is determining the borrower’s credit score. With multiple credit bureaus reporting on different factors, the borrower may see multiple versions of their credit score. Additionally, lead generation websites are constantly phishing consumers to get their free “credit scores.” HousingWire reports that new research suggests that the VantageScore is not the same as a FICO score despite claims asserting otherwise.

The number of phone scammers posing as heating or electric companies increased 109% in 2016. The top five companies phone scammer claim affiliation with are General Electric, Duke Energy, ConEd, Georgia Power, and Consumers Energy.

Last week, Steve Mnuchin was sworn in as Treasury Secretary, Fed Chair Janet Yellen suggested an interest rate hike is coming soon, and mortgage rates started to rise. This week’s important housing reports will include existing home sales, new home sales, and the Federal Housing Finance Agency’s (FHFA) House Price Index.

The homeless population in Los Angeles, CA has grown so substantially, that the mayor declared a state of emergency. In November, voting citizens approved a $1.2 Billion bond to build 10,000 apartments to help house the chronically homeless over the next ten years. At this time, an estimated 50,000 people sleep on the streets every night. Homes for Hope is trying to reduce that number.

Mortgage rates dropped somewhat last week. Rates in 2017 have stayed relatively unchanged following volatility toward the end of 2016. This week, the National Association of Home Builders (NAHB) will release a housing market index. Other scheduled reports include retail sales, housing starts, and building permits.

After some volatility earlier in the month, mortgage rates started to drop this week. Last week, the Federal Open Market Committee (FOMC) voted to leave interest rates unchanged. This week, the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) dropped slightly, and consumer credit posted modest gains. Mortgage applications also increased this week, following a drop last week.

Pittsburgh Mills, a 1.1 million-square-foot mall in Frazer, Pennsylvania, sold at auction for just $100. The sprawling shopping center once valued at $190 Million in 2007 was foreclosed by Wells Fargo in November 2015, when its developers did not pay back the $143 Million owed.

Mortgage rates fluctuated only slightly last week, and the Federal Open Market Committee (FOMC) voted to not raise interest rates. This week, the Labor Department releases its Job Openings and Labor Turnover Survey (JOLTS), the consumer credit report for December comes out, and the MBA releases its weekly mortgage purchase application index.

Mortgage rates did not move much this week, following the Federal Open Market Committee’s (FOMC) decision not to raise interest rates. Despite a week-over-week drop in new purchase and refinance mortgage applications, monthly housing numbers posted strong gains.

Hex House, not to be confused with the Tulsa’s most terrifying haunted attraction of the same name, is an affordable housing solution that reduces the cost of design and construction. Each home is assembled on-site, by the buyer, much like do-it-yourself furniture.

Mortgage rates experienced some volatility last week. On Tuesday, Dr. Ben Carson’s nomination for the Secretary of the Department of Housing was approved by the Senate Committee. On Wednesday morning, the Dow Jones Industrial Average opened at 20,000. This week the Federal Open Market Committee meets on Tuesday and Wednesday. Upcoming housing reports include pending home sales and the S&P Case-Shiller home price index.

Mortgage rates experienced some volatility this week, opening with a decline and then climbing throughout the week. The Senate Banking, Housing, and Urban Affairs Committee approved Dr. Ben Carson’s nomination for the Secretary of the Department of Housing and Urban Development. The next step in his proceedings will be facing the entire Senate vote. On Wednesday, the Dow Jones Industrial Average broke 20,000 for the first time ever. Important housing reports that were released this week include existing home sales, new home sales, and the Federal Housing Finance Agency House Price Index.

Self-sufficiency is not a new concept. Before the modern age communities thrived for centuries without relying on trade and export from around the world. Today, disconnecting from the grid is a new concept and one that challenges the idea of sustainability in housing and development.

Mortgage rates went up last week and the Department of Housing and Urban Development suspended their plan to cut mortage insurance premiums on Federal Housing Administration Loans. This week, there will be important housing reports including existing home sales, the Federal Housing Finance Agency’s House Price Index, and new home sales.

The Federal Housing Administration had planned to reduce annual Mortgage Insurance Premium starting January 27th. However, the new Trump administration suspended this change. Still, homebuilders remain confident, and housing starts are up but building permits dropped slightly.

As the car-centric world starts shifting toward the walkability trend, neighborhoods are seeing property values rise and quality of life improve. Enabling pedestrianization of a neighborhood is the first step toward urban renewal, commitment to a better environment, and a revamped sense of community.

It is going to be a short news week with markets closed today in observance of Martin Luther King Jr. Day and no major events scheduled on Friday because of Inauguration Day. Looking ahead there will be important housing numbers released with the National Association of Home Builders’ housing market index, and housing starts and building permits. The consumer price index is scheduled for release Wednesday morning.

Mortgage rates opened the week with a slight week-over-week decline and did not change much from Monday to Friday. This week, the Federal Reserve released its consumer credit report, the Bureau of Labor released the JOLTS Survey, and the retail sales report for December came in. Several incoming cabinet members sat for their confirmation hearings this week including Dr. Ben Carson for Secretary of the Department of Housing and Urban Development.

Last week, mortgage rates opened the year with a week-over-week decline. This week is the first full week of the new year with several important economic reports including consumer credit, JOLTS, and retail sales.

Mortgage rates started the New Year with a drop from the previous week and dropped further by the end of the week. In housing news, US Construction spending increased somewhat and mortgage applications dropped. The ADP Employment report was also released this week, showing continued steady job growth.

Andrew Cuomo, Governor of New York and former HUD Secretary, announced Tuesday the disbursement of $8 Million for the construction, rehabilitation, and repair of homes across the state of New York. The funds will be administered by the state’s Affordable Housing Corporation to make improvements to existing owner-occupied homes, to acquire and rehabilitate homes for sale, and to construct new homes for sale.

Happy New Year! Mortgage rates started to drop last week, after a steady climb following the election and the FOMC rate hike. This week is a short week with markets closed on Monday in observation of New Year’s Day. US construction spending comes out Tuesday, the weekly MBA purchase applications survey comes out Wednesday as well as the ADP employment report.

Since the Housing and Economic Recovery Act (HERA) of 2008 established the baseline loan limit of $417,000 there has not been an increase in loan limits. When instituted, HERA stated the baseline loan limit would not rise until the average US home price rebounded to a pre-decline level. Until this year, the average US home price was below the level achieved in Q3 of 2007.

In this special edition of our Roundtable series, we interviewed three top executives with one of our President’s Council sponsors, CMG Financial, a top residential mortgage lender based in San Ramon. The future of the industry will be determined by how innovative companies like CMG Financial respond to new regulatory realities, market disruptions, and more.